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When a single parent with 50/50 custody is able to provide for their children on their income alone, and the children's other parent makes a lot more, and the lower income parent is entitled to child support according to their jurisdiction's guidelines, should the lower income parent exercise their right to child support? When it effectively means it could allow for a higher standard of living than is necessary and/or less drain on the lower income parent's ability to save for retirement?
 

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Yes it's within their rights according to the courts and could make their lifestyle better along with opportunities to save not only for retirement but emergencies.
 
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