Good morning! It’s Daniel de Visé with your Daily Money.

There was no official alert about the wildfire barreling toward the mountainous community of Altadena, California, Erion Taylor remembers. Instead, she got a text from her neighborhood group chat: “We’re evacuating La Viña.”

She prayed the quaint, diverse town, 13 miles north of Los Angeles, would be spared. But the next day, a neighbor texted: “I’m sorry to tell you, everything is gone.”

Kohl's and Macy's stores shuttering

Two of America's largest department stores announced plans in the past week to shutter locations across the country. The result for consumers: Some communities will be losing both Kohl's and Macy's stores, Jim Sergent reports.

Kohl's and Macy's said in their respective Jan. 9 releases that they singled out underperforming stores. For Denver-area residents, that means three fewer department stores: two Macy's and one Kohl's store. In California, San Diego and Sacramento will lose a store from each chain.

Here are other affected communities.

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For the first time ever in 2024, Gen X workers saw their 401(k) balances top those of baby boomers.

Balances for Gen X workers who have been saving for 15 years averaged $543,400, or $200 more than boomers’, according to a Fidelity analysis of its more than 22 million accounts in the first three months of the year. 

Gen X, born between 1965 and 1980, is often referred to as the forgotten generation. Surveys have shown many of them don’t have nearly enough for retirement, but Fidelity’s report shows some green shoots.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.