I think the question here is, is your son treating you poorly in a disrespectful manner? I think if someone is treating you poorly, it is fine to distance yourself from this person including relatives. If anyone is treating you poorly, it may be time to reflect on yourself. There may be a grain of truth on why they are treating you this way or maybe not. In any event if you tried to reconcile and there is not much else you can do, I think it is fine to distance yourself and they may eventually come around/forgive.
However, if he is not treating you poorly, but just because he became a disappointment of a child (if that is what you think), I don't think this is enough reason to distance yourself from your child or dislike him. If he is unloading his burden on you, well that is part of being family but if you think it is too much, let him know that you cannot handle this stress. I think if stress is too much to handle you can distance yourself, but that should not impact whether you like him or not. If he is irresponsible with money, I don't think you are obligated to help him. However, if it is a matter of need, I think you are obligated to do so but there are ways to help him without spending too much of your own money, such as letting him stay at your home until he finds a job, cutting out nonessentials, etc.