The Income Factory by Steven Bavaria explains a straightforward approach to investing, focusing on building a portfolio that generates steady, reliable income over time. Instead of aiming for big price gains in the stock market, the book encourages investors to focus on assets like dividend-paying stocks, bonds, and real estate, which provide consistent cash flow. The idea is to create an "income factory" where your investments produce regular earnings that can be reinvested or used for your financial needs, providing a more stable, long-term strategy for wealth-building.