Yes, you used it well! I would recommend a few grammatical changes for clarity. "Raising a child is not easy. It needs lots of care, as well as enough time." You can think of 'as well as' to mean 'and' or 'also' depending on the context. In this sentence, it would mean 'and' but in the other example you used "I am good as well," it means 'also.' Both are correct.