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A fresh survey has revealed that one-quarter of Manitobans are without savings or plans for their financial future.

The survey, commissioned by the Canadian Securities Administrators and the Manitoba Securities Commission, shows that 28% of Manitoba’s citizen’s 18 years of age and older have no savings and no financial investments in their future.

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Carried about by Innovative Research Group, the online survey polled 7,271 Canadian adults between August and October of this year. Additionally, the MSC surveyed an additional 529 Manitobans to provide more accurate results locally.

Manitoba compares to the national figure of 31%.

“What really concerns me are the numbers indicating Manitobans in their 30s, 40s, and 50s without a financial plan or adequate savings for retirement,” Don Murray, MSC chair and CAO, and CSA co-chair said in a release on Monday.

Of the remaining 72% of Manitobans who have savings, 53% of those are socked away in RRSP, RRIF or pension plans, 41% have a TFSA and 29% have savings outside of those examples.

The survey also suggested that nearly half of Manitobans who invest have less than $50,000 saved.

Fraud, according to the release, affects one-in-five Manitobans and just 7% of Manitobans surveyed said had a reasonable expectation for return on investment.

“If a person thinks a 20 or 30% return on investment in 30 days sounds reasonable, they’re going to be much more susceptible to being scammed,” said Ainsley Cunningham, manager of education and communications at MSC.

The report said that 27% of Manitoban investors take the time to check their advisor’s credentials.