The new Harris Poll on holiday shopping, compiled by the American Institute of CPAs (AICPA), paints a picture of Americans teetering on a financial tightrope. Rising prices are especially being felt by retirees on fixed incomes looking to maximize their dollars as they purchase gifts for their loved ones this holiday season. On this special episode of Decoding Retirement, Robert "Bob" Powell speaks with Dan Snyder and Cary Sinnett from the AICPA about what retirees can do to mitigate the high cost of goods while ensuring their financial futures stay on firm ground. Dan and Cary discuss the benefits of limiting holiday spending to a certain percentage of your income, avoiding the credit card 'debt trap,' and tips to ensure you stay within a favorable tax bracket.

Yahoo Finance's Decoding Retirement is hosted by Robert Powell.

Find more episodes of Decoding Retirement at https://finance.yahoo.com/videos/series/decoding-retirement.

Learn more about your ad choices. Visit megaphone.fm/adchoices