CFP

www.a-academy.net
02/10/2016

CFP
A-Academy : A Free Lifelong Learning Academy
(Lifelong Learning)

(AIMC)
CFP, Asset Allocation, Investment Planning
Refresher Course


CFP
(Certified Financial PlannerTM)
02/10/2016

... ?
02/10/2016

...
20,000
/

02/10/2016

12

20

.. 45

.. 57

( 12 )

(% )

60 ()

4.82

5.92

23%

1.7%

96.00

152.87

59%

4.0%

100%
5 . ()

112.00

211.77

89%

5.5%

( .)

13.86

27.60

99%

5.9%

1,561.25

3,433.33

120%

6.8%

:
02/10/2016

! =
11.5
2.4

8.6
1.8

6.2
1.3

4.8
1.0
0

10

15

20

25

30

35

: = 3.0%
02/10/2016

1. ( )
300 x 30 = 9,000
700 x 4 = 2,800
3,000

1,000
2,000
24,000/12 = 2,000

60,000/12 = 5,000
2,000
26,800
02/10/2016

2.

26,800
02/10/2016

2.1

56,280
8

3.

56,280

20

13,507,200

80

02/10/2016

...

02/10/2016

10

 !


The most powerful force in the universe is compound interest

02/10/2016

11

 72
1 () =

72

2%
?

12% ?

02/10/2016

36
64
12

 App
iOS

(Apple iPhone, iPad, iPod Touch)

App Store App

EZ Financial Calculators
Android

(Samsung, HTC, LG, Lenovo, Oppo, )

Play Store App

Financial Calculators
02/10/2016

13

TVM Calculator
/

Annually ()

02/10/2016

14

1. ?
300,000 10%
30 ?
()

()

-300,000
0
5,234,820

(% )

10

30

Annually

02/10/2016

15

2. ?
3,000 ( 36,000 )
10%
35 ?
()

()

-36,000

9,756,877

(% )

10

35

Annually

02/10/2016

16

3. + ?
500,000 10,000 ( 120,000 )
8%
20 ?
()

-500,000

()

-120,000

7,821,914

(% )

20

Annually

02/10/2016

17

02/10/2016

18

 (Investment Assets)

, ,

02/10/2016

19

()

()

( 15%)

( 30%)

( 60%)

()

1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

6.00%
4.08%
3.50%
2.75%
2.00%
1.00%
1.00%
2.88%
4.46%
2.33%
1.75%
0.68%
1.63%
3.00%
2.50%
2.25%
1.72%
2.55%

6.88%
7.77%
4.33%
4.41%
2.57%
0.58%
0.42%
5.30%
6.11%
7.84%
1.78%
1.78%
2.96%
4.02%
3.42%
3.97%
3.14%
3.93%

7.75%
14.29%
8.33%
10.18%
(2.49%)
2.87%
(0.23%)
5.48%
7.63%
18.78%
(4.18%)
5.76%
5.61%
3.30%
2.14%
9.37%
5.09%
5.72%

11.29%
0.13%
5.96%
6.83%
20.29%
(1.17%)
1.92%
4.40%
9.75%
0.05%
11.89%
8.22%
2.96%
9.39%
2.36%
6.18%
0.95%
5.83%

15.70%
(7.51%)
7.59%
9.24%
38.00%
(2.92%)
3.43%
3.50%
13.40%
(7.75%)
22.01%
14.66%
2.96%
14.75%
1.29%
8.39%
(1.24%)
7.43%

24.51%
(22.78%)
10.85%
14.07%
73.44%
(6.43%)
6.43%
1.69%
20.68%
(23.34%)
42.23%
27.54%
2.97%
25.49%
(0.83%)
12.81%
(5.63%)
9.79%

36.27%
(43.15%)
15.20%
20.51%
120.68%
(11.10%)
10.44%
(0.71%)
30.40%
(44.12%)
69.20%
44.71%
2.97%
39.80%
(3.67%)
18.71%
(11.47%)
11.13%

02/10/2016

20


Ibbotson SBBI
Stocks, Bonds, Bills and Inflation 1926-2014

: Ibbotson, Morningstar
02/10/2016

21

 10

(% )
3

10

BTP

BBLAM

4.21

16.90

19.77

15.09

RPF2

MFC

4.06

12.02

19.48

14.22

BBASIC

BBLAM

4.00

14.44

18.46

14.04

KTSE

KTAM

2.93

10.81

17.47

14.00

TNP

MFC

4.51

11.86

18.52

13.97

STD2

MFC

4.32

11.57

18.95

13.96

BKA

BBLAM

3.03

13.64

18.04

13.93

SF7

MFC

4.33

11.98

18.37

13.89

STD

MFC

3.91

11.40

18.87

13.89

SCIF

MFC

3.90

11.69

19.02

13.83

: WealthMagik 30 .. 59
02/10/2016

22

3 41 ( 7.3%)

10%

()

5
4
3

2
1
0

(SET Total Return Index)

02/10/2016

23


(1)
BDMS : ()

02/10/2016

24


(2)
CENTEL : ()

02/10/2016

25

 Fund of Property Funds

CIMB-PRINCIPAL iPROP-A
LHTPROP
LHPROP-I
M-PROPERTY
M-PROP DIV
ONE-PROP
ONEPROP-D
PHATRA PROP
PHATRA PROP-D
T-PROPERTY
T-PropInfraFlex
TMBPIPF

(%)
3
6
3.98
15.10
3.01
20.14
2.43
17.75
4.37
17.76
4.09
18.48
3.11
15.92
2.67
13.49
3.65
16.64
4.23
15.21
2.54
20.04
5.14
5.40
13.85

1
13.80
27.53
24.78
25.35
21.59
16.35
21.83
18.50
28.53
8.89

(% )
3
5
9.03
10.23
14.49
8.60
12.38
6.04
9.80
-

10
-

: WealthMagik - Fund Screener 30 .. 59

02/10/2016

26

02/10/2016

27

02/10/2016

28


Ibbotson SBBI
Stocks, Bonds, Bills and Inflation 1926-2014

: Ibbotson, Morningstar
02/10/2016

29


KISS : Keep It Simple and Stupid

Dollar-Cost Averaging (DCA)

02/10/2016

30

02/10/2016

31

02/10/2016

32

02/10/2016

(Money Market Fund)

(Fixed Income Fund)

/
(Equity Fund)

(Property Fund / REITs)

(Gold Fund)
33

...

12%
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
1%

(LTF)

( 60-70%)

( 30-40%)

( 15-20%)

02/10/2016

(RMF)

7
34

( 15%)

( 30%)

( 60%)

1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

6.88%
7.77%
4.33%
4.41%
2.57%
0.58%
0.42%
5.30%
6.11%
7.84%
1.78%
1.78%
2.96%
4.02%
3.42%
3.97%
3.14%

11.29%
0.13%
5.96%
6.83%
20.29%
(1.17%)
1.92%
4.40%
9.75%
0.05%
11.89%
8.22%
2.96%
9.39%
2.36%
6.18%
0.95%

15.70%
(7.51%)
7.59%
9.24%
38.00%
(2.92%)
3.43%
3.50%
13.40%
(7.75%)
22.01%
14.66%
2.96%
14.75%
1.29%
8.39%
(1.24%)

24.51%
(22.78%)
10.85%
14.07%
73.44%
(6.43%)
6.43%
1.69%
20.68%
(23.34%)
42.23%
27.54%
2.97%
25.49%
(0.83%)
12.81%
(5.63%)

36.27%
(43.15%)
15.20%
20.51%
120.68%
(11.10%)
10.44%
(0.71%)
30.40%
(44.12%)
69.20%
44.71%
2.97%
39.80%
(3.67%)
18.71%
(11.47%)

3.93%

5.83%

7.43%

9.79%

11.13%

1-2%
02/10/2016

35


Percentile Ranking

02/10/2016

36

 : www.aimc.or.th
02/10/2016

37

: (AIMC) 30 .. 59

02/10/2016

38


10

1.00

3.26

1.00

2.76

1.00

2.58

10

1.00

3.69

1.00

2.94

1.00

2.11

: (AIMC) 30 .. 59
02/10/2016

39

 KFSDIV Percentile Ranking

: (AIMC) . 30 .. 59
02/10/2016

40

 BBASIC Percentile Ranking

: (AIMC) . 30 .. 59
02/10/2016

41

Thai
Bond

Foreign
Stock

Thai
Stock

Thai
Bond

Foreign
Bond
Thai
Stock

02/10/2016

Foreign
Stock

Thai
Bond
Foreign
Bond

Thai
Stock

Property
/REITs

AI
Foreign
Stock

Thai
Stock

Thai
Bond
Foreign
Bond
Property
/REITs

+
+

42

...
3
. .

02/10/2016

43

... ?
1) 20,000
2,000

2) 2,000
18,000

02/10/2016

44

VS

( )
02/10/2016

( )
45

 Dollar-Cost Averaging (DCA)

!

02/10/2016

46

DCA 10 (2006-2015)
IRR = 10.8%

5,000

160

1,400,000

140

1,200,000

120

1,000,000

100

800,000

80

600,000

60

400,000

40

200,000

20
0

02/10/2016

Dec-15

May-15

Oct-14

Mar-14

Aug-13

Jan-13

Jun-12

Nov-11

Apr-11

Sep-10

Feb-10

Jul-09

Dec-08

May-08

Oct-07

Mar-07

Aug-06

Jan-06

47

 DCA
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09

(SET Index)
858.10
784.23
845.76
817.03
832.45
833.65
768.59
676.32
684.44
596.54
416.53
401.84
449.96
437.69
431.52
431.50
491.69
560.41
597.48
624.00
653.25
717.07
685.24
689.07

Dec-09

734.54

Date

02/10/2016

5,000
5.8268
5,000
6.3757
5,000
5.9118
5,000
6.1197
5,000
6.0064
5,000
5.9977
5,000
6.5054
5,000
7.3930
5,000
7.3052
5,000
8.3817
5,000
12.0039
5,000
12.4428
5,000
11.1121
5,000
11.4236
5,000
11.5869
5,000
11.5875
5,000
10.1690
5,000
8.9220
5,000
8.3685
5,000
8.0128
5,000
7.6540

5,000
6.9728
7.2967
-14.4%
5,000
5,000
7.2562

.. 2009
4,280
4,683
4,342
4,495
4,412
4,406
4,778
5,430
5,366
6,157
8,817
9,140
8,162
8,391
8,511
8,511
7,470
6,554
6,147
5,886
5,622
5,122
5,360
5,330

-14.40%
-6.34%
-13.15%
-10.10%
-11.76%
-11.89%
-4.43%
8.61%
7.32%
23.13%
76.35%
82.79%
63.25%
67.82%
70.22%
70.23%
49.39%
31.07%
22.94%
17.71%
12.44%
2.44%
7.19%
6.60%

5.8268
12.2025
18.1143
24.2341
30.2404
36.2382
42.7436
50.1365
57.4418
65.8234
77.8274
90.2701
101.3822
112.8059
124.3928
135.9803
146.1493
155.0713
163.4398
171.4526
179.1067
186.0795
193.3762
200.6324

5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
70,000
75,000
80,000
85,000
90,000
95,000
100,000
105,000
110,000
115,000
120,000

.. 2009
4,280
8,963
13,306
17,801
22,213
26,618
31,397
36,827
42,193
48,350
57,167
66,307
74,469
82,860
91,371
99,883
107,353
113,906
120,053
125,939
131,561
136,683
142,043
147,372

%
-14.40%
-10.37%
-11.30%
-11.00%
-11.15%
-11.27%
-10.29%
-7.93%
-6.24%
-3.30%
3.94%
10.51%
14.57%
18.37%
21.83%
24.85%
26.30%
26.56%
26.37%
25.94%
25.30%
24.26%
23.52%
22.81%

48

02/10/2016

...

49

4
3
2

02/10/2016

50

120 1

30

1 3

90

3 6

180

6 10

240

10

300

02/10/2016

51

()

60 *

(/)

15
16
17
18
19
20
25
30
31
32
33
34
35
36
37
38

20.0%
21.5%
23.0%
24.5%
26.0%
27.5%
35.0%
42.5%
44.0%
45.5%
47.0%
48.5%
50.0%
51.5%
53.0%
54.5%

3,000
3,225
3,450
3,675
3,900
4,125
5,250
6,375
6,600
6,825
7,050
7,275
7,500
7,725
7,950
8,175

02/10/2016

* 15,000 /
52

3
2

02/10/2016

53

x
50

60 x
* =
50
* 70 60

02/10/2016

54

 ( .)
30

()
35

40

30,000

18,000

21,000

21,000

40,000

24,000

28,000

28,000

50,000

30,000

35,000

35,000

60,000

36,000

42,000

42,000

70,000

42,000

49,000

49,000

80,000

48,000

56,000

56,000

90,000

54,000

63,000

63,000

100,000

60,000

70,000

70,000

(60 )

* 70 60
02/10/2016

55

 (Provident Fund)
14,000,000
12,000,000

12,398,410

10,000,000
8,000,000

6,561,062

6,000,000

4,482,605

4,000,000

3,183,952

2,000,000

1,026,855
0
22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60

: 22 , 15,000 5%
= 5% = 5%
02/10/2016

56

 (PVD)
Retirement/401k Calculator 401k Contribution Calculator
PVD

()
()

PVD
02/10/2016

57

 (PVD)
Retirement/401k Calculator 401k Contribution Calculator
PVD

()
()

PVD
02/10/2016

58

 (.)

?
?
( 112% 15%)

02/10/2016

59

02/10/2016

60

02/10/2016

61

 . :
Retirement/401k Calculator 401k Contribution Calculator
.

()
()

.
02/10/2016

62

 . :
Retirement/401k Calculator 401k Contribution Calculator
.

()
()

.
02/10/2016

63

 . : &

15%
6%
02/10/2016

15%
8%
64

02/10/2016

65

 #1

5,000

3,000
24,000

= 10
= 10%
= 30

02/10/2016

66

 #2
= 5

= 10
= 10%
= 20

02/10/2016

67

 10/1

5.0%
10.0%

10.0%

1.0

31

25,000

2,500

25,000

55,000

55,000

32

26,250

2,625

26,250

55,000

57,750

5,500

118,250

33

27,563

2,756

27,563

118,250

60,638

11,825

190,713

35

30,388

3,039

30,388

273,453

66,853

27,345

367,651

10

40

38,783

3,878

38,783

887,281

85,323

88,728

1,061,333

15

45

49,498

4,950

49,498

1,999,323

108,896

199,932

2,308,152

20

50

63,174

6,317

63,174

3,947,855

138,982

394,785

4,481,622

25

55

80,627

8,063

80,627

7,287,096

177,380

728,710

8,193,186

26

56

84,659

8,466

84,659

8,193,186

186,250

819,319

9,198,754

27

57

88,892

8,889

88,892

9,198,754

195,562

919,875

10,314,192

28

58

93,336

9,334

93,336

10,314,192

205,340

1,031,419

11,550,951

29

59

98,003

9,800

98,003

11,550,951

215,607

1,155,095

12,921,653

30

60

102,903

10,290

102,903

12,921,653

226,387

1,292,165

14,440,206

02/10/2016

68

 20/3

7.0%
20.0%

10.0%

3.0

31

30,000

6,000

90,000

162,000

162,000

32

32,100

6,420

96,300

162,000

173,340

16,200

351,540

33

34,347

6,869

103,041

351,540

185,474

35,154

572,168

35

39,324

7,865

117,972

827,842

212,349

82,784

1,122,975

10

40

55,154

11,031

165,461

2,805,238

297,830

280,524

3,383,592

15

45

77,356

15,471

232,068

6,582,407

417,723

658,241

7,658,370

20

50

108,496

21,699

325,487

13,496,660

585,877

1,349,666

15,432,204

25

55

152,171

30,434

456,513

25,797,775

821,723

2,579,777

29,199,276

26

56

162,823

32,565

488,469

29,199,276

879,244

2,919,928

32,998,448

27

57

174,221

34,844

522,662

32,998,448

940,791

3,299,845

37,239,083

28

58

186,416

37,283

559,248

37,239,083

1,006,647

3,723,908

41,969,638

29

59

199,465

39,893

598,395

41,969,638

1,077,112

4,196,964

47,243,714

30

60

213,428

42,686

640,283

47,243,714

1,152,510

4,724,371

53,120,595

02/10/2016

69

 ? (Timing)

2551/2008

Timing
02/10/2016

70


Key Actions

02/10/2016

71

02/10/2016

72

02/10/2016

73

( 15%)

( 30%)

( 60%)

1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

6.88%
7.77%
4.33%
4.41%
2.57%
0.58%
0.42%
5.30%
6.11%
7.84%
1.78%
1.78%
2.96%
4.02%
3.42%
3.97%
3.14%

11.29%
0.13%
5.96%
6.83%
20.29%
(1.17%)
1.92%
4.40%
9.75%
0.05%
11.89%
8.22%
2.96%
9.39%
2.36%
6.18%
0.95%

15.70%
(7.51%)
7.59%
9.24%
38.00%
(2.92%)
3.43%
3.50%
13.40%
(7.75%)
22.01%
14.66%
2.96%
14.75%
1.29%
8.39%
(1.24%)

24.51%
(22.78%)
10.85%
14.07%
73.44%
(6.43%)
6.43%
1.69%
20.68%
(23.34%)
42.23%
27.54%
2.97%
25.49%
(0.83%)
12.81%
(5.63%)

36.27%
(43.15%)
15.20%
20.51%
120.68%
(11.10%)
10.44%
(0.71%)
30.40%
(44.12%)
69.20%
44.71%
2.97%
39.80%
(3.67%)
18.71%
(11.47%)

3.93%

5.83%

7.43%

9.79%

11.13%

02/10/2016

74

16.0
15.0

36

1,000,000

10.0%

100,000

200,000

1,300,000

37

1,300,000

10.0%

130,000

200,000

1,630,000

38

1,630,000

10.0%

163,000

200,000

1,993,000

39

1,993,000

10.0%

199,300

200,000

2,392,300

40

2,392,300

10.0%

239,230

200,000

2,831,530

11.0

41

2,831,530

10.0%

283,153

250,000

3,364,683

10.0

42

3,364,683

10.0%

336,468

250,000

3,951,151

9.0

43

3,951,151

10.0%

395,115

250,000

4,596,266

8.0

44

4,596,266

10.0%

459,627

250,000

5,305,893

10

45

5,305,893

10.0%

530,589

250,000

6,086,482

7.0

11

46

6,086,482

8.0%

486,919

300,000

6,873,401

12

47

6,873,401

8.0%

549,872

300,000

7,723,273

13

48

7,723,273

8.0%

617,862

300,000

8,641,135

4.0

14

49

8,641,135

8.0%

691,291

300,000

9,632,426

3.0

15

50

9,632,426

8.0%

770,594

300,000

10,703,020

2.0

16

51

10,703,020

8.0%

856,242

300,000

11,859,261

17

52

11,859,261

4.0%

474,370

300,000

12,633,632

18

53

12,633,632

4.0%

505,345

300,000

13,438,977

19

54

13,438,977

4.0%

537,559

300,000

14,276,536

20

55

14,276,536

4.0%

571,061

300,000

15,147,598

02/10/2016

14.0
13.0
12.0

6.0
5.0

1.0

0.0

35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

75

36

1,000,000

-2.4%

-24,000

200,000

1,176,000

37

1,176,000

-15.0%

-176,400

200,000

1,199,600

38

1,199,600

34.7%

416,261

200,000

1,815,861

39

1,815,861

42.1%

764,478

200,000

2,780,339

40

2,780,339

-5.0%

-139,017

200,000

2,841,322

41

2,841,322

7.5%

213,099

250,000

3,304,421

42

3,304,421

2.1%

69,393

250,000

3,623,814

43

3,623,814

57.0%

2,065,574

250,000

5,939,388

44

5,939,388

-14.0%

-831,514

250,000

5,357,873

10

45

5,357,873

24.2%

1,296,605

250,000

6,904,479

11

46

6,904,479

3.6%

248,561

300,000

7,453,040

12

47

7,453,040

7.8%

581,337

300,000

8,334,377

13

48

8,334,377

-5.0%

-416,719

300,000

8,217,658

14

49

8,217,658

17.0%

1,397,002

300,000

9,914,660

15

50

9,914,660

6.1%

604,794

300,000

10,819,454

16

51

10,819,454

7.2%

779,001

300,000

11,898,455

17

52

11,898,455

5.0%

594,923

300,000

12,793,378

18

53

12,793,378

-3.0%

-383,801

300,000

12,709,577

19

54

12,709,577

11.4%

1,448,892

300,000

14,458,468

20

55

14,458,468

2.8%

404,837

300,000

15,163,305

02/10/2016

16.0
14.0

12.0
10.0
8.0

6.0
4.0
2.0

0.0

35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

76

 &

: Goals-based Investing: Integrating Traditional and Behavioral Finance Dan Nevins

02/10/2016

77

... ?

35 , - 60,000 /, 500,000
02/10/2016

78

 : ? ? ?

1.

200,000

2.

300,000

3.

15

2,000,000

4.

25

10,000,000

02/10/2016

79

50,000

100,000

100,000

250,000

500,000

200,000

300,000

2,000,000

10,000,000

12,500,000

()

15

25

(% )

3%

5%

8%

10%

4,000

2,600

5,200

6,200

18,000

( 15%)

( 60%)

( 100%)

Saving Rate

( App)

02/10/2016

30%

80

 (Budget)
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2016

/

:

60,000
0
0
0
60,000

60,000
0
0
0
60,000

60,000
0
0
20,000
80,000

60,000
0
0
0
60,000

60,000
0
30,000
0
90,000

60,000
0
0
0
60,000

61,200
0
0
0
61,200

61,200
0
0
0
61,200

61,200
0
0
20,000
81,200

61,200
0
0
0
61,200

61,200
0
0
0
61,200

61,200
0
0
0
61,200

727,200
0
30,000
40,000
797,200

:
:
:
:

/ .
/

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
41,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
15,000
24,000
5,000
3,000
0
1,500
14,000
500
0
83,950

18,000
4,000
2,600
5,200
6,200
63,950
1,200
750
1,800
50,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
93,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
12,000
5,000
3,000
0
1,500
2,000
500
0
56,950

18,000
4,000
2,600
5,200
6,200
44,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
18,000
12,000
5,000
3,000
0
1,500
2,000
500
0
74,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
20,000
5,000
3,000
8,000
1,500
2,000
500
0
64,950

18,000
4,000
2,600
5,200
6,200
26,950
1,200
750
1,800
13,000
8,000
0
1,000
1,200
0
26,500
5,000
3,000
0
1,500
14,000
3,000
0
71,450

216,000
48,000
31,200
62,400
74,400
393,400
14,400
9,000
21,600
193,000
96,000
0
12,000
14,400
33,000
178,500
60,000
36,000
8,000
18,000
48,000
8,500
0
787,900

3,050

3,050

23,050

-23,950

-3,950

3,050

4,250

4,250

24,250

-13,750

-3,750

-10,250

9,300

02/10/2016

81

02/10/2016

82


1. Plan

2. Adjust

3. Invest

4. Monitor

02/10/2016

...

83

 !
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... !

02/10/2016

84

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