Dictionary Definition:

1: the state of doing well especially in respect to good fortune, happiness, well-being, or prosperity (must look out for your own welfare)

2 a: aid in the form of money or necessities for those in need b: an agency or program through which such aid is distributed

Number one is the true definition. The second definition is a corruption of the word as much as perfectly good words like queer, etc have been corrupted and made unsuitable for normal use.

Here is what you get as suggestions when you google search welfare:

welfare benefits
welfare state
welfare reform
welfare statistics
welfare fraud
welfare office
welfare rights
welfare capitalism

IYAM, the constitutional meaning of welfare is #1 which is the welfare that you are referring to when you tell your kids you are doing something for their welfare.

Welfare is a subjecttive thing that you should enjoy, not hold in your hand.