MY ADVISOR AND PLANNER

As the sampling of some popular regional institutions shows, the current published costs of attendance can be intimidating. The picture becomes more serious when you consider the amount you would need to plan for if you have a child born in 2021 who would attend a school for four years starting in 2039. Unfortunately for your wallet, the aid you may receive from the government, colleges and private scholarships often only cover about one-third of all college expenses. The sooner you start saving, the better off you will be in the long run, and even modest savings can grow into significant investments by the time your child is ready to head off to school.

HERE’S HOW TO GET STARTED SAVING

P Save money methodically via payroll deduction or via another systematic investment method. (Your financial advisor should be able to help you with this.) P Consult your financial advisor and collaborate to develop a plan with milestones for achieving your child’s educational goal. As your children get old enough, have them periodically accompany you when meeting with your financial advisor, allowing them to learn and become engaged in the process. P When they are old enough to get a job, have your children contribute half of their earnings into their college savings fund. P Save and invest windfalls such as inheritances, income tax refunds or bonuses. P Increase the amount you save by five percent each year to keep up with the college tuition inflation rate. P Ask relatives to contribute to the savings account in lieu of gifts. P Keep your savings and investment plans a priority. P Make sure to not carry credit card debt and to maintain an emergency fund as this will help keep you from having to “raid” college savings to cover other expenses. Strategies for investing for college are many and cannot be adequately covered in this single article. Contact us to discuss ways your money can work as hard as you do.

n Tom McCartney is the Founding Principal of My Advisor & Planner and a registered representative and investment advisory representative with M Securities. Investments in securities involve risks, including the possible loss of principal. My Advisor & Planner is independently owned and operated. McCartney and his team can be reached at info@ mapyourfuture.net or 630-457-4068. Photo by Indre Cantero

Talented TEEN

Cheyenne Anderson started Facing West Photography at a young age — and the business has only grown from there

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By Hannah Hoffmeister Photos by Facing West Photography

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ou could say Cheyenne Anderson’s photography business really took off after she put up three photos for sale in Geneva coffee shop Cafe & Barr.

But her family would probably say otherwise. While the teen’s business is new, Cheyenne’s passion is nothing new to them. “She’s always been very artistic naturally and very driven,” says her aunt Jolene Gillis. “Very dedicated to the things she cares about and loves.” The 15-year-old started her photography company, Facing West Photography, with those three nature photos in Cafe & Barr. Word of her talent spread last fall, and now she’s expanded to doing family sessions, portraits and more. “I don’t know if I’ve ever met a 14-year-old as driven,” says Phil Anderson, her dad. (Cheyenne turned 15 between the interview and this article’s publication.) Both father and daughter share a love of being outdoors — Cheyenne likes hiking and camping, which usually leads to nature photographs that highlight her surroundings. “I love making the beauty of nature stand out and just being able to capture something that amazing,” she says.