March 2017 Cheesy Index

It is that time of the month when all income is in, all numbers are added and we can now officially present to you the March 2017 Cheesy Index!

March 2017 Cheesy Index

This month we are very pleased to report yet another increase, and it is even bigger one than last month! We are up to 61%, that’s 1.5% for the month, an absolutely ridiculous MOM increase! We are now actually on track to hit the original 65% target already halfway this year. Unless there is a catastrophic market meltdown (wrong pun with North Korea at the moment…), we have a good chance to really get ahead this year.

Besides the usually contributors like the real estate, dividend income and our good savings rate, there is another reason why we shot up again this month. We finally (almost 9 month later than planned) got our Canadian taxes back from 2015! Well at least a portion of it….

March 2017 Cheesy Index
March 2017 Cheesy Index

Canadian Taxes

We still worked a few months in Canada for part of 2015, before emigrating back to the Netherlands. Once we had sold our house, we maxed out the RRSP room available. An RRSP is a Registered Retirement Savings Plan. It’s the Canadian version of a tax sheltered/tax deferred investment account, which we manage ourselves. We both have an account and we keep the majority of our dividend stock here.

When we maxed out the contributions to these accounts, we also created a rather large tax refund for ourselves. However, due to the move and the requirement for special (paper!) forms it took a bit longer to get a tax return. When we did, the refunded amounts did not match with what we had in mind. So we called the CRA (Canadian Revenue Agency) to find out why.

Apparently we had not correctly filled out parts of the tax return, so eligible deductions were not accepted. Keep in mind that these special tax returns (non-resident) are far from easy and can only be done manually (we also did one for the Netherlands for the same year, again with issues). Mrs CF together with the CRA figured out what updates where required. We submitted the updates late last year.

And behold, we are now getting back what we had originally anticipated. The payment for Mr CF came in March. Another one for Mrs CF has already arrived too, but will not show up in the Cheesy Index until next month. So there will be another massive job next month too. We are a bunch of happy campers at the moment.

How did our net worth/index develop in March? Did you also receive a surprise income, bonus or tax return?


  1. That must be a fantastic feeling to finally get the taxes all sorted out, such a headache to deal with taxes within your own country let alone international factors – headache inducing! Good job for sticking to your guns and pushing to get the money back, I wouldn’t be surprised if a lot of people give up and consider the money a lost cause.

    Mrs DDU

    1. Thanks Mrs DDU, we are good as procrastination, so it did take a bit of effort to get ourselves to finish it off. But all the money is in and we are figuring out ways to invest the funds.

    1. Hey Mr Fob, it is great progress. But I think you may have mistaken the savings rate with the Cheesy Index. Unless you are 66% complete for you FI number? Perhaps I’ve misinterpreted the “spaarquote”…

  2. I am about 20K down since the beginning of March (I was 25K up since the beginning of the year so do not worry for me 🙂 But that is what you get if you are hyper concentrated and use leverage …

  3. That target number is getting closer and closer. We just finished our tax return this morning, which is nowhere near what you had to do… It cost us only 15 minutes, instead of 9 months, quit the difference. Luckily everything turned out as it should be in the end.

    1. Glad to hear you guys were able to get your taxes done quickly. Are you getting some money back? Our 2016 tax submission was a whole lot easier, just one country and we even get money back this year. Nice surprise!

  4. Go team cheesy… Great results.

    Maybe start to fasten the seatbelt when it goes a little wrong in Asia or middle East. There is a lot of testosterone and ego around the table…

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