Prasetiya Mulya Executive Learning Institute
Financial Counseling for Managers
Switomo Santoso Ak, MBA, CPMA, CFP® Adv. Cert. SCMP℗(ITC), AEPP™, QWP®
Why Do We Need Financial Planning ? • • • • •
Pension Education Investment Estate Planning Other plans (house, holiday, wedding, pilgrimage, children’s future) • Emergency Fund 2
Effects of Financial Stress • Engagement • Productivity • Health • Fraud 3
What is Your Wealth Definition ? Are You There Yet ? • • • • • • •
Numbers of property Money @ retirement Passive Income > All Expenses Exclusive Wealth members Children --- > independent Yearly overseas trips P.A.S. goals 4
SUGIH • S ehat
• U tang lunas • G embira • I nvestasi • H emat 5
The Role of Time Value in Finance • Most financial decisions involve costs & benefits that are spread out over time. • Time value of money allows comparison of cash flows from different periods. • Question: Your father has offered to give you some money and asks that you choose one of the following two alternatives: – $1,000 today, or – $1,100 one year from now.
• What do you do? 6
Simple Interest • With simple interest, you don’t earn interest on interest.
• Year 1: 5% of $100
=
$5 + $100 = $105
• Year 2: 5% of $100
=
$5 + $105 = $110
• Year 3: 5% of $100
=
$5 + $110 = $115
• Year 4: 5% of $100
=
$5 + $115 = $120
• Year 5: 5% of $100
=
$5 + $120 = $125
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Compound Interest • With compound interest, a depositor earns interest on interest! • Year 1: 5% of $100.00
= $5.00 + $100.00
= $105.00
• Year 2: 5% of $105.00
= $5.25 + $105.00
= $110.25
• Year 3: 5% of $110.25
= $5 .51+ $110.25
= $115.76
• Year 4: 5% of $115.76
= $5.79 + $115.76
= $121.55
• Year 5: 5% of $121.55
= $6.08 + $121.55
= $127.63
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Computational Aids Compounding and Discounting
9
Future Value of a Single Amount: A Graphical View of Future Value
10
Present Value of a Mixed Stream • Frey Company, a shoe manufacturer, has been offered an opportunity to receive the following mixed stream of cash flows over the next 5 years.
11
Present Value of a Mixed Stream • If the firm must earn at least 9% on its investments, what is the most it should pay for this opportunity? • This situation is depicted on the following time line.
12
The Rule of 72 • If I invest $10,000 now @ 12% compounded annual rate, how long will my fund grow to $20,000 ? • At what annual rate should I invest if I want to double my money in 4 years ?
13
Basic Interest Calculation • A vendor borrowed from a money lender with the quotation as follows: IDR 1,000,000 with 20% discount rate, hence the vendor only receives IDR 800,000. How much is the effective rate ? • Beware of the rate quotations
14
Special Applications of Time Value: Loan Amortization Loan Amortization Schedule ($6,000 Principal, 10% Interest, 4-Year Repayment Period)
15
Nominal & Effective Annual Rates of Interest • PrasMul wishes to find the effective annual rate associated with an 8% nominal annual rate (i = .08) when interest is compounded (1) annually (m=1); (2) semiannually (m=2); and (3) quarterly (m=4).
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Flat & Effective Rate • • • •
Principal: 100,000,000 Interest:100,000,000 x 2% x 10 = 20,000,000 Installment: 120,000,000 / 10 = 12,000,000 This translates to 3.46% effective rate compared to the quoted (flat) rate of 2%
17
Flat & Effective Rate • 100,000,000 = – 12,000,000 / (1 + r)1 + – 12,000,000 / (1 + r)2 + – 12,000,000 / (1 + r)3 + ………… – 12,000,000 / (1 + r)10
• r = 3.46% 18
PRINCIPAL
100,000,000
ANGSURAN
BUNGA
POKOK
FLAT RATE
2%
0
TENOR
10
1 12,000,000
3,460,154
8,539,846
91,460,154
20,000,000
2 12,000,000
3,164,662
8,835,338
82,624,816
120,000,000
3 12,000,000
2,858,946
9,141,054
73,483,761
12,000,000
4 12,000,000
2,542,651
9,457,349
64,026,413
5 12,000,000
2,215,412
9,784,588
54,241,825
6 12,000,000
1,876,851
10,123,149
44,118,676
7 12,000,000
1,526,574
10,473,426
33,645,250
8 12,000,000
1,164,177
10,835,823
22,809,427
9 12,000,000
789,241
11,210,759
11,598,668
10 12,000,000
401,332
11,598,668
BUNGA
ANGSURAN
EFFECTIVE
3.46%
3.46%
SALDO
20,000,000
100,000,000
100,000,000
(0) 19
Use and Abuse of Quoted Rate • • • • •
First installment added FIDUCIA / administrative Fee Insurance premium for 3-5 years Flat and effective rate Late fee, payment date is calculated on the day the bank / leasing receives the money, NOT the transfer day. Cumulative ! 20
UANG • U __________________ • A ___________________ • N ___________________
• G ___________________ 21
USAHA • Gaji, insentif, tunjangan, bonus • Investasi vs Resiko • Asah skill Anda (hard & soft)
• Target 22
Usaha Sampingan ? • RESIKO • Dampak pada pekerjaan – Waktu – Stamina – Pikiran
• Tanyakan kepada Diri Sendiri : bagaimana jika hal tersebut dilakukan oleh karyawan/ti Anda ? Bisakah saya fair terhadap perusahaan sekarang ? 23
Diversifikasi • • • • • • • • • •
Real Estate Saham / obligasi Reksadana Forex Commodity Arts / Hobby Fixed income High-risk vs Low-risk Short vs Long term Liquid vs Permanent 24
Broad Categories of Risk • • • • • • • • •
Market (interest, exchange) Business (lost, debt) Credit Operational (fraud) Legal Reputation People (turnover) Liquidity Procurement (schedule, cost, quality)
Sample Probability/Impact Matrix
26
Before You Invest • What is your financial goal ? – To protect – To prepare – To possess – To play / speculate
• Investment Horizon • Risk Appetite 27
SAHAM • Surat saham adalah tanda kepemilikan perusahaan perseroan terbatas. • Saham perusahaan dibedakan atas dasar perbedaan hak dan kewajiban pemiliknya. 28
Valuasi Saham • Pertumbuhan Dividen
• Prospek pertumbuhan harga saham di kemudian hari, meliputi kebijakan manajemen, prospek ekonomi, prospek usaha / sektor bisnis.
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OBLIGASI • Obligasi merupakan: – – – –
Surat berharga Pernyataan penerbit obligasi mengenai pinjaman Jangka menengah – panjang Pemegang mendapat COUPON RATE (Suku bunga obligasi) – Dengan masa jatuh tempo 3 – >5 tahun, dan – Dapat diperjualbelikan di Bursa Efek
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Rating Obligasi Moody’s (MOODY’S)
Pefindo (S&P)
Aaa Aa A
AAA AA A
Baa 1-2-3
BBB
SPECULATIVE
Ba B
BB B
POOR QUALITY
Caa Ca C
CCC CC C
KELAS PERINGKAT TOP QUALITY
MEDIUM
QUESTIONABLE
DDD DD D
31
Perubahan Harga Obligasi • Disebabkan oleh: – Perubahan creditworthiness penerbit – Perubahan waktu menuju maturity – Perubahan tingkat bunga pasar – Perubahan tingkat resiko bisnisnya
32
JENIS OBLIGASI • Fixed Rate • Floating Rate • Zero Coupon • SYARIAH 33
Saham dan Obligasi SAHAM
OBLIGASI
Jangka waktu ikatan
Permanen
Temporer
Jumlah balas jasa
Fleksibel, kecuali untuk saham preferen
Tetap, kecuali yang float / Syariah Mudharabah
Pengembalian dana
Hanya kalau terjadi likuidasi
Secara berkala
Agunan
Tidak dibutuhkan
Bisa dibutuhkan
Hak mengelola perusahaan
Memiliki
Tidak memiliki, kecuali bila timbul masalah 34
REKSADANA • Resiko Reksadana – Berkurangnya Nilai Unit Penyertaan – Risiko Likuiditas – Risiko Wanprestasi
• Jenis Reksadana – – – – –
Saham Pasar Uang Pendapatan Tetap (USD / Rp) Campuran Index , Syariah 35
REKSADANA • Reksadana Terproteksi – Proteksi Investasi Awal – Minimum period / jangka waktu proteksi – Efek Utang dengan Investment grade – Efek luar negri max 30% NAB, informasi harus dapat diakses publik – Resiko: pasar, kredit, valas, suku bunga
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ANGGARAN • Penghasilan Tetap vs Variabel • Penyisihan / cadangan • Capex vs Opex
• Biaya Tetap & Variabel 37
EXPENDITURE CAPEX • Untuk masa depan • Biasanya sekali-sekali • Investasi • Important • Bisa didanai dengan utang
OPEX • Untuk jangka pendek • Berulang-ulang • Beban • Urgent • UTANG
38
Expenditure Types • • • • • • • • •
Debt (KTA, credit card, KPR) Insurance Utilities (PLN, PAM, phone, gas) Transportation Children Employees (maid, driver, babysitter) Health Investment Lifestyle 39
MENGENAL CATATAN KEUANGAN ANDA Kemana uang dibelanjakan? Catatan Arus Kas Berapa Kekayaan Anda Sekarang? Neraca Keuangan 40
CATATAN ARUS KAS ANDA
PENDAPATAN 1. ARUS KAS MASUK Tetap Tidak Tetap Total Pendapatan
Rp. Rp. Rp.
2.500.000,00 0,00 2.500.000,00
Rp.
0,00 600.000,00 0,00 0,00 600.000,00
Rp.
0,00 0,00
Rp.
0,00 0,00 0,00 0,00 0,00
Rp. Rp.
600.000,00 400.000,00 1.000.000,00 1.600.000,00
PENGELUARAN 1. HUTANG Mortgage / KPR Kredit Kendaraan Kartu Kredit Hutang Lain-lain Total Hutang
Rp. Rp. Rp. Rp.
2. ASURANSI Asuransi Total Asuransi
Rp.
3. TABUNGAN / INVESTASI Dana Pendidikan Anak Dana Hari Tua Dana Liburan Dana Lain-lain Total Tabungan / Investasi
Rp. Rp. Rp. Rp.
Prioritas pengeluaran yg ideal 1. Membayar Cicilan hutang 2. Membayar Asuransi 3. Menabung/Investasi 4. Sisanya belanja keluarga
4. BELANJA KELUARGA Rutin Insidentil Total Belanja Keluarga Total Pengeluaran
Rp. Rp.
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ASET / HARTA 1. ASET LIKUID (KAS dan SETARA KAS) Kas
Rp.
Total Aset Likuid
15.000.000,00 Rp.
15.000.000,00
2. ASET PERSONAL Rumah / Tanah
Rp.
0,00
Kendaraan
Rp.
12.000.000,00
Emas, Perhiasan dan koleksi Antik
Rp.
0,00
Aset Personal Lainnya
Rp.
0,00
Total Aset Personal
Rp.
12.000.000,00
Catatan Kekayaan Anda
3. ASET INVESTASI Rumah / Tanah
Rp.
0,00
Kendaraan
Rp.
0,00
Emas, Perhiasan dan koleksi Antik
Rp.
0,00
Saham
Rp.
0,00
Portofolio Dana
Rp.
0,00
Deposito Jangka Panjang
Rp.
0,00
Aset Investasi Lainnya
Rp.
0,00
Total Aset Investasi
Rp.
0,00
TOTAL ASET
Rp.
27.000.000,00
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Catatan Kekayaan Anda KEWAJIBAN / HUTANG 1. HUTANG JANGKA PENDEK Kartu Kredit
Rp.
700.000,00
Hutang-Hutang Lainnya
Rp.
0,00
Total Hutang Jangka Pendek
Rp.
700.000,00
2. HUTANG JANGKA PANJANG Hutang KPR
Rp.
6.300.000,00
Hutang-Hutang Lainnya
Rp.
0,00
Total Hutang Jangka Panjang
Rp.
0,00
TOTAL HUTANG
Rp.
7.000.000,00
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NABUNG • Tetapkan target • Tanya kenapa ? • Emergency Fund
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MENABUNG DAN BERINVESTASI
Pedoman Paling sedikit 10% dari Penghasilan sebelum keperluan rumah tangga
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Likuiditas untuk DANA DARURAT / DANA CADANGAN
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DANA DARURAT / CADANGAN Sebagai patokan, besaran yang ideal adalah MINIMAL: 6 (enam) X biaya bulanan untuk usia < 30 tahun 9 (sembilan) X biaya bulanan untuk usia 30 – 40 tahun 12 (dua belas) X biaya bulanan untuk usia > 40 tahun
RASIO Aset Likuid: 15 %
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Debt Management • List Your Debt • Compare and prioritize: – Rate – Penalty / risk if unpaid – Grace Period
• Negotiate
48
MENGELOLA HUTANG
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MENGELOLA HUTANG Kemampuan Berhutang • Membayar total hutang tidak melebihi
35% pendapatan tetap bulanan.
• Minimum 20% untuk hutang produktif. Lebih besar dari 20% lebih baik. • Maksimum 15% dapat dipakai untuk hutang konsumtif. Lebih kecil lebih baik.
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MENGELOLA HUTANG •Jumlah hutang tidak melebihi 50% dari aset nya (hartanya)
Benchmark: Rasio Modal dibanding atas Total Aset minimum 50%.
• Jumlah hutang mengecil dan menjadi NOL disaat pensiun
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Jaminan Kredit • • • • • • •
Tanah & Bangunan (SHM / HGB) - BPR Mesin produksi – fidusia Kendaraan – BPKB / Faktur Pajak Logam Mulia / perhiasan Surat Berharga, SBI, Deposito Surat Kuasa Potong Gaji Alternatif: surat nikah, ijazah, SK, personal guarantee, Taspen / SK Pensiun 52
GAYA HIDUP • Perhatikan aktivitas mingguan / bulanan Anda • Bedakan antara ‘butuh’ dan ‘ingin’
• Kurangi sementara jika kesulitan menghentikannya sekaligus • Tahan / tunda dulu seminggu keinginan Anda (buying experience ? ) 53
The Financial Planner • Credentials • Fee Structure • Affiliated Company
• Scope of Work 54
Retire Soon … • Apa yang Anda miliki ? (aset, network, pengalaman, keahlian, bakat, sikap) • Apa yang Anda inginkan ? (aktivitas fisik, sosial, rohani, keluarga, travel)
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