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Unlocking the Secrets of Financial, Personal, and Creative Wealth for All

Why Were We Never Taught How to Build Wealth?

Demystifying Wealth is a blueprint and friendly guide to end financial shame and desperation. It seeks to put everyone on track to achieve their dreams, which begins with financial security.

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What Is Demystifying Wealth?

Demystifying Wealth consists of video courses you can watch at your convenience, live events, such as office hours, webinars, and guest speakers, a community of like-minded people for questions and discussions, and curated content and resources, with more to be added all the time. We begin with Personal Finance, but financial knowledge does not exist in isolation. To be truly wealthy you should earn more, have better relationships, improve your communication and job skills, and be more creative and productive. Those who are successful combine a number of key life skills together. True wealth is much more than money.

Personal Finance

With easy-to-automate and direct steps you can become debt free and unleash the exponential power of long-term, tax optimized investing. Learn about saving, investing, taxes, banks, credit cards, cars, renting, buying a home, and more.

Life, Learning, Leadership

Learn how to handle conflict, hard conversations, and negotiations, build your dream career, become a lifelong learner, and forge meaningful lifelong relationships, all with proven strategies you can use today, and more.

Innovation and Creativity

Whether you stay in a paid job, form a nonprofit, start a business or project, or simply want to solve problems in your personal life or community, the ability to create, imagine, and execute like the best innovators in the world will transform your future.

Starting a Business

You need not start a business to become wealthy, but many want the freedom and advantages that come from building side hustles all the way to high growth startups. Learn how cutting-edge tools utilized by most innovative companies can be used by you.

Available Now: 10 Hours of Personal Finance I

Click here to watch an overview of Personal Finance I

Why I Created Demystifying Wealth

My name is David Frazee. My goal is to teach you how to create wealth, ideally transformative and generational wealth, for yourself, your family, and your community. I grew up under the poverty level in rural Kansas. The tools I describe here were my way out. My mantra is “be the person you needed to save you when no one did.” This program will teach you what I took a lifetime to learn (and am still learning!) More than ever we need to free ourselves from the shackles of debt, financial misery, and dead-end, soul-crushing jobs, and instead unleash the talent of every person who can dream, create, and execute to transform our world. Read my introductory blog post, “What is Demystifying Wealth,” read more about me, and watch my introductory video.

Test Your Personal Finance Knowledge

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What Is Your Personal Financial Knowledge Score?

What is your Personal Financial Knowledge Score? This 10-question quiz tests your knowledge of stocks, bonds, index funds, credit scores, credit cards, debt, retirement accounts like IRAs and 401(k)s, and financial distress.

1 / 10

1. What is the average interest rate in 2023 of credit cards that have an unpaid balance on them?

2 / 10

2. What is the most compelling reason to invest in a Roth IRA?

3 / 10

3. If you make a profit from the sale of stock you held for more than one year, which statement is most accurate?

4 / 10

4. What is the approximate compound annual growth rate of the S&P 500 since the beginning of 1963 to mid-2023?

5 / 10

5. Which statement about an emergency fund is most correct?

6 / 10

6. If you invested $1000 in 1981 with no fees, which of the following investments would have led to the greatest return as of mid-2023 (more than 25 times the next closest from this list!)?

7 / 10

7. Which of the following is FALSE about a FICO credit score?

8 / 10

8. What percent of professionally managed mutual funds which charge fees have consistently outperformed investing in the S&P 500 index fund for little or no fees?

9 / 10

9. Which of the following represent ownership in a corporation?

10 / 10

10. If you invest $1000 today and get 10% compound interest on your investment, how much will you have at the end of 20 years?

Your score is

The average score is 55%

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The Truly Difficult DW Pretest

Every one of the 20 questions on this test will be explained in easy-to-understand terms and will be simple after you complete the eight courses of Personal Finance I. But how many can you get now? Be warned, the majority of testers could not break 35%.

1 / 20

1. Withdrawals from which of the following account is not taxed as income when you withdraw the investment gains after age 59 1/2?

2 / 20

2. What is the approximate total amount of credit card debt owed by U.S. consumers in mid 2023?

3 / 20

3. If you invested $100 in an S&P 500 index fund at the beginning of 1981, approximately how much would the investment be worth in mid 2023 (assuming no fees and all dividends reinvested)?

4 / 20

4. Warren Buffett stated that upon his death, the trustee of his wife's inheritance will be instructed to invest following which strategy?

5 / 20

5. Which statement is most correct about volatility?

6 / 20

6. What is the maximum a person under age 50 can contribute to a 401(k) retirement plan in 2023, excluding employer matches?

7 / 20

7. Which of the following statements best describes a tax deductible expense?

8 / 20

8. Which of these investment strategies is best for holding a 3-6 month emergency fund?

9 / 20

9. What is the name of the phenomenon when a person is reluctant to abandon a losing investment because they have invested heavily in it, even when it is clear that abandonment would be more beneficial?

10 / 20

10. Which of the follow statements is most correct about mutual fund fees?

11 / 20

11. When you withdraw money from your traditional IRA or 401(k) during retirement, which statement is most accurate?

12 / 20

12. If you change your mind at age 35 about your traditional IRA investment you made at 25 and withdraw your money because you want to buy a new car, which statement is most accurate?

13 / 20

13. What is the maximum someone under the age of 50 and earning $100,000 a year can contribute directly from earned income to a Roth IRA in 2023?

14 / 20

14. If you are 35 with a family, an income of $170,000 and have a net worth of 500,000, which statement is most correct about your life insurance needs?

15 / 20

15. Which of the follow is the best example of an index fund?

16 / 20

16. Which answer best describes what a bond is?

17 / 20

17. Which of these statements is most true about a personal bankruptcy filing?

18 / 20

18. Which statement is most true about a $12,000 unpaid credit card debt with a 17.9% interest rate?

19 / 20

19. For most people, which of the following wealth building priorities should be highest?

20 / 20

20. If one invested $100 at a 10% compound annual growth rate (compound interest), how much would that person have at the end of 50 years?