The Income Factory: An Investor’s Guide to Consistent Lifetime Returns

I have long been interested in closed end funds but never thought i had the expertise to invest in them. Mr. Bavaria closes this gap with his readable book and clear explanations. I learned about the book from an interview with Mr Bavaria on thoughtful money you tube. If you are interested in this subject you should check it out.

Four years ago I decided to retire. I had invested my money over the years into several Vanguard mutual funds through my employer's 401k program. As I got closer to retirement I realized I had no idea what to do with my money. I researched and found something called the 4% rule where I could withdraw 4% of my money every year to live on. Well, that's great until you, our your wife, outlive the money. Then what? I decided that there had to be something better. That something is what I found in this book.I retired with a little over 1.3 million dollars that I invested in an IRA at the end of May 2020, right when stocks were at a low point due to covid. I selected my stocks based on what I learned in this book. My wife and I are living on the dividends from those stocks plus my social security and a couple of small pensions. The gross payments from my stock dividends are roughly $145,000 per year. Out of that I reinvest 20% in stocks to help keep up with inflation and withhold 25% for taxes. The important thing is that my principle isn't being reduced to pay my living expenses. The value of my stocks has decreased under the current administration but the number of shares I own is increasing. (When Trump was president the value of my stocks went up about $250,000. Biden has lost me about $400,000. But my income, if you ignore inflation, continues to go up every month.)This book has been a blessing to me because I had no idea that high paying dividend stocks were a viable means of supporting oneself through retirement. It's a damn shame we aren't taught this in our schools!

Very crisply written and easy to follow along. The author makes compelling arguments to dispel a lot of the fear associated with credit investments of non-investment grade fixed income and for diversifying investment strategy beyond just buy-and-hold total return or dividend growth investing. Ch. 6-9 also contain a lot of actionable information that a more seasoned investor could just read. I plan to try out the strategy laid out with a portion of my investments.

The author is one of the best in the industry with his many years of practical experience and his track record of successful investing using his trademarked Income Factory approach. I have followed Steven's work for years and exchange ideas with him frequently on the Seeking Alpha website where he publishes his latest research and ideas on investing for income. The book is a fantastic read for beginners or for seasoned investors who are looking for ideas to improve their future income stream from passive investing.

'The Income Factory: An Investor's Guide to Consistent Lifetime Returns' is a great book. For the new stock market investor, it is all you need to get started. For experienced investors, it shows how to reap higher profits.In this book, Steven has distilled the essence of high-yield investing. In clear straightforward language, he explains the rationale behind his investing strategy, lists candidate equities for one's portfolio, and offers several model portfolios for investors' varying goals and risk appetites. All the building blocks are there for you to get started immediately.Based on his experience in international banking, credit, and investment, he explains, in a few pages and minus the jargon, the various risks of fixed income securities and equities. He shows how equity investors take on credit risk when buying stocks, often without even knowing it. And shows whether they are getting sufficient reward for such risk.He also explains how to invest in various asset classes that can boost your returns with very little increase in risk or volatility. Whether markets are up, down, or moving sideways.This book can be one of your most valuable assets. In a couple of hours, you can learn to be a more successful, profitable investor. You'll be glad you did.

This is a book about "buy & hold" of closed-end-funds. CEFs get killed much worse than do the majority of large & mid-cap stocks when the market crashes. With perfect timing, the book came out a few days before the big March 2020 Crash that literally destroyed CEFs... and I mean destroyed CEFs. The next scenario that will harm a number of the assets in this type of "buy & hold" portfolio is whenever interest rates are ratcheted up by the Federal Reserve... and that may include a number of the years going forward since rates are now in almost negative territory but inflation is definitely destined to be in our future. I do think that there is some valuable information in this book, and I am glad that I read it, but it will take experience for readers to be able to separate the grain from the chaff and to know which is which.

Good read. The book could have been shorter, parts of it seemed to drag on.

My book order arrived on time in a couple of days, and is in perfect condition. Even adding the postage it was cheaper than I could find anywhere else. I'll certainly be using them again!

Author assumes that what he invests in will remain at a flat price, but with a high dividend yield.With a quick internet research you can see that what he touches does not have a flat price, but a falling or at least going down price.So the math actually doesn't work, better to just invest in the S&P or whatever

It is a good book for non-professional audience as it elaborates the concept repeatedly.Otherwise, the whole book could be summarized into a couple of pages paper . It consists of few ideas that repeated multiple times over and over.

The book is interesting and provocative. It gives a very detailed look of the author summarising years of experience and cases. For me the detailed look about CLO's was very useful. I was intrigued with the development of the rating in the years.