MovieChat Forums > Goodfellas (1990) Discussion > Why don't mafia guys ever SAVE any of th...

Why don't mafia guys ever SAVE any of the proceeds from their scams?


Real life mafiosos are morons in many ways, especially when it comes to handling their finances. They steal a hundred grand and they don't save a dime of it. Literally! They get a box full of money and they immediately go blow it on strippers, gambling, drugs, and God knows what else. A week later, the money's gone and they are broke again. Then they go looking for their next theft/scam and the process repeats itself. Why not blow 10K on partying and put the other 90K in IRAs and mutual funds? Is there any reason why they never do this? Is there something about the lifestyle that discourages or prohibits this?

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[deleted]

It's because they're criminals and sociopaths, they're not thinking about setting up a 401K.

Also, being a low or a even a mid-level mob associate does not pay all that well. They usually live hand-to-mouth and scam-to-scam. When you have normal expenses, there's not a left over, not to mention that they usually have some kind of vice...be it drugs, gambling, women, booze

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In the book (though not the movie) Donnie Brasco, Joe Pistone noted that an older crew member suggested to "Donnie" that he take a but of money from every score and give it to someone he could trust, so he would have some money saved. Pistone IIRC referred to it as a "Mafia IRA" and noted that most of the connected guys did not follow that advice.

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Because anything legal they do with the money will make them easier to trace and once they get caugth their money and properties get confiscated.

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Because after you've done your job and "retire" your family will take care of you.

And you don't want to attract attention or having anyone hide or know about your money. Anything you do to keep that cash around is a way to have people all over you 24/7.

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Lots of gangsters were found to have hidden money.

Generally mob life is very fast pace. The type of person that the mob attracts usually has a few vices. Gambling and such.

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I would also guess that mob life generally doesn't attract people who are smart and humble enough to save and invest for the future. Sure, there are some like this, especially among the bosses, but these street guys featured in the film seemed more about living for the moment and showing off their wealth.

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Because there are laws. Any cash transaction of over $10k must be reported to the Feds, and, the law further forbids purposely structuring cash transactions to be under $10k for the purposes of avoiding reporting laws. Bottom line, mobsters have to keep their money in cash and, if the cops ever find that cash and the mobster can't justify why he has it, it will be seized. That creates great incentive and temptation to just spend it, and, yeah, many of these guys are too weak to fight that temptation.

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The laws were not as strict back during the time that these guys were going. Full size fully equipped pick up trucks and Cadillacs were selling for over 10 K and I heard plenty of stories of old coots who did not believe in banks due to the Great Depression bringing in wads of cash to pay for such things. But one thing these old coots did was file their tax returns even if everything they did for income did not make it on there. This was the catch for guys such as Henry as he was tailed enough that the Feds would know that Henry made a very significant purchase and could not show legitimate income to pay for it. And if Henry pitched the excuse that the in-laws paid for it or loaned the money then the in-laws would be checked out by the authorities then that excuse would fall apart. Johnny Roastbeef with his Cadillac should have been pinched almost immediately if the cash reporting obligation were at 10K or greater at that time. The dealer would have readily complied on such law rather than risk penalty on themselves. Jimmy would have known that and would have had Johnny whacked almost immediately rather than waiting several weeks or months. Mob guys do get hot (stolen) things such as cars but the way the scene played out between Jimmy and Johnny tells me that the Caddy was purchased legit through a dealer. The fact that Johnny was a known associate meant that there was active surveillance on him and the minute law enforcement noted Johnny driving a Caddy would have sent them digging. Had Johnny legit cover businesses that would have kept Jimmy cool as Johnny would have a good cover for the Caddy.

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[deleted]

I've never understood that. In that life you eventually reach the point where you already have enough convictions that if you get one more he judge is going to throw away the key, and the authorities are determined to bring you down. I cant fathom how these guys don't see that day coming and have a little retirement package in place so they can quit when they need to.

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I think a more logical reason is many mobsters donate very generously to charities

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Haha, YES!
In between armed robberies, cocaine deals and murdering everyone in their way gangsters are well known for reading to the blind, donating to dog shelters and funding roadway litter cleanups😆

They’re just blue collar guys!

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