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Hiring an Adviser worth the cost

These days there has been a flurry of advisors available in the market – Investment advisor, Medical advisor, Shopping advisor.. even End of Life advisors are available. Everything comes at a cost so does the advisors. A lot many times, we wonder – “Are advisors worth the cost”. There is a little story worth pondering which goes like this –

The Graybeard engineer retired and a few weeks later the Big Machine broke down, which was essential to the company’s revenue.  The Manager couldn’t get the machine to work again so the company called in Graybeard as an independent consultant.

Graybeard agrees. He walks into the factory, takes a look at the Big Machine, grabs a sledge hammer, and whacks the machine once whereupon the machine starts right up. Graybeard leaves and the company is making money again.

The next day Manager receives a bill from Graybeard for $5,000. Manager is furious at the price and refuses to pay. Graybeard assures him that it’s a fair price. Manager retorts that if it’s a fair price Graybeard won’t mind itemizing the bill. Graybeard agrees that this is a fair request and complies.

The new, itemized bill reads….

Hammer:  $5

Knowing where to hit the machine with hammer: $4995

(Source: https://www.buzzmaven.com/old-engineer-hammer-2/)

You can select between cost of losing opportunity OR getting into business with an advisor immediately

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