Stop buying $ 3 Boichik bagels


An Oakland wealth management firm that charges $ 2,000 for its services gave a surprising financial tip this week: Stop buying Boichik Bagels.

“If you buy Boichik Bagels you deserve to be poor,” read the subject of a newsletter sent by Lula Financial on Thursday, referring to the hugely popular Berkeley bagel store that was recently opened. hailed by the New York Times as better. than New York bagels.

“The sons of bit * hes charge $ 3 per bagel,” the email read. “As of now, I prohibit all customers from visiting Boichik Bagels more than once a year.”

Emily Winston, owner of the store, was shocked, upset and ultimately amused by the email a customer sent her. Instead of getting mad at the attack on her bagels, she decided to post a screenshot of Boichik’s Instagram email. It’s now gaining momentum online.

“I thought it was really kind of a banana,” she said of the email she provided to The Chronicle. “It’s the same old trope: Stop buying $ 3 lattes and you’ll save money. It’s a little saying that the bagel is the new latte.

Lula Financial founder Benjamin Packard, who wrote the email, said it was a joke and he “never intended to offend another owner of small business”.

“I use humor to make financial planning more accessible to my clients,” he wrote in an email to The Chronicle. “I mainly work with young families who are saving to buy their first home. Frugality is one of the fundamental pillars that I use to lead them to the almost impossible goal of buying a home in this crazy market. It was just a friendly (and fun) reminder to be conscientious with their spending.

As a “Jewish kid from the East Bay,” he added, he actually finds Boichik’s bagels to be “delicious”.

Lula Financial’s website is indeed full of cheeky language, like the last step in a five-step plan to get your finances in order: “If you don’t follow the plan, you will die poor and alone. Packard writes in his online bio that he started buying stocks at the age of 9 and is a terrible cook. Lula bills herself as “financial planning for people who hate financial planning,” and Packard also recently wrote a blog post comparing cryptocurrency to a “hot new girl”.

But to Winston, the email blasphemy and targeting of a small business seemed inappropriate “overkill” – especially coming from a company that charges $ 2,000 for financial planning and $ 100 a month for ” ongoing advice, ”according to Lula Financial’s website.

Joke or not, the comments section of Winston’s Instagram post, which drew well over 100 comments in less than two hours, quickly became a Lula Financial roast.

To some, it echoed toast-gate avocado. Several years ago, a Melbourne real estate mogul suggested that Millennials could become homebuyers if they simply gave up their expensive habit of avocado toast. The New York Times verified this claim, finding that although young adults spent less on dining out, it would take them about 113 years to afford a down payment on a house.

“It screams ‘you would be able to buy a house if you stopped buying avocado power,’” one person on Boichik’s Instagram commented.

“This guy has a bagel trauma to work out,” another joked.

“I just signed up for Boichik Bagels’ financial advisory and my bank account has never been so full! I don’t even know “what to do with all that cream (cheese),” the owners of Square Pie Guys joked. “Share this post with 140,000 friends for 50 years of stock market luck.”

Winston said she had never heard of Lula Financial or Packard before seeing her email.

“If he thinks the world should just eat Costco bagels, that’s not the world I want to live in,” Winston said. “I want to eat good bagels.

Elena Kadvany is a writer for the San Francisco Chronicle. Email: [email protected]

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