While saving means keeping money aside, investing involves putting money somewhere that it can potentially increase in value.

If you are in the financial position to invest rather than save then it could be the best option for you. However, you must be sure that you will not need access to this money for some time.

If you invest, you may lose some or all of your money.  

However, the upside is that your money can also grow. In fact, your money may be able to outpace inflation, which means that it will not devalue over time like money sat in an account with little to no interest.

It isn't possible to accurately predict a return on investment, and you may lose money. 

However, it's important to note that potentially higher returns go hand-in-hand with higher-risk investments, and that lower-risk investments are generally expected to return less.

Investments in Ireland are subject to a 1% government levy, which is automatically paid when you make an investment.

If you have returns on your investment, then a 41% exit tax applies. This is due on withdrawal, or on the eighth anniversary of your investment, and is automatically taken by Irish Life and paid to Revenue on your behalf.