Yes you can, although whether or not you should depends on your specific situation. 

Advisors recommend investing for a minimum of five years. This is to mitigate the risk of losing money, since  investing for a longer period is more likely to result in positive returns.

This means that  if your savings goal is less than five years away then investing may not be the most suitable option for you. 

Speaking to a financial advisor will give you a much better idea of whether or not investing is the best strategy for your financial goals, and if so how to go about getting started.

Generally, there are regular investments and lump sum investments.

• Lump sum investments involve investing one large amount (€10,000 or more) at once, then leaving it to hopefully grow.
• Regular investments are smaller and more frequent (starting from €100 per month). 

A combination of both is possible: for example investing an initial €2,000 and then a further €200 per month. 

A financial advisor will be able to discuss the benefits and downsides of each strategy with you.

Yes. Investments are subject to a 1% government levy when you invest, and any returns will be subject to a 41% exit tax. 

The 1% levy is deducted when you make your investment, and exit tax is automatically deducted from returns and paid to Revenue by Irish Life. 

There are charges and fees associated with investing in different funds, which a financial advisor can explain to you in detail on a quick and confidential call.

Yes - but only the growth of your investment is taxable, not the entire fund. 

Growth from investment funds is taxed at 41%, and is automatically deducted from your investment and paid to Revenue on your behalf by Irish Life.

Note that when you make an investment, you will also pay a 1% government levy on your investment amount.