See all posts by Rupert Hargreaves If you have reached 50 years of age, and have no savings for the future, don’t panic. There’s still plenty of time to build a sizable nest egg to retire on.Investment trusts are a great tool to use to help you accumulate wealth quickly. Experienced managers usually run these trusts, and they have more flexibility than traditional open-ended funds. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Scottish Mortgage InvestmentThe Scottish Mortgage Investment Trust (LSE: SMT) is a great example. This company, which has been managed by James Anderson since 2000, invests in high-growth businesses around the world. Its global mandate means Scottish Mortgage can invest in regions most individual investors would struggle to get exposure to. Around 20% of the trust’s assets under management are invested in Chinese equities, for example. Anderson also employees a high conviction portfolio approach. In other words, he’s happy to devote as much as 10% of the trust’s assets to one particular investment. The largest holding is currently Amazon.com. This accounts for 8.8% of assets under management. While most investment managers would try and stay away from using this much concentration in a portfolio, over the past two decades, Anderson has proven that he knows how to manage his holdings. Scottish Mortgage has produced a cumulative return for investors of more than 156% over the past five years, outperforming its benchmark by 66% since 2015.The trust is currently dealing at its net asset value and charges a total operating cost of 0.4% per annum. The dividend yield stands at 0.5%.RIT Capital PartnersAnother trust that you can trust to manage your wealth is RIT Capital Partners (LSE: RCP).RIT is committed to growing its investors’ wealth over the long term. Founded by the Rothschild banking dynasty, the founding family still owns a majority shareholding. Its investment managers also own a stake in the enterprise. The fact that the trust’s managers are happy to invest alongside regular shareholders implies that they will work tirelessly to produce the best results for all stakeholders over the long term. Certainly, since its inception, the trust has not disappointed. Founded in 1998, £10,000 invested in RIT at inception would be worth around £326,000 today, including dividends. RIT has achieved this performance by investing in a range of assets. The trust owns real estate, private equity investments, public securities and investments in hedge funds. This collection of assets has helped the firm weather market downturns and profit from upswings. Considering this performance, and the fact that management is a significant stakeholder, it is unlikely the trust will change its strategy anytime soon. That implies that these market-beating returns could continue for the foreseeable future. Unfortunately, the one downside of this trust is its cost. The overall cost is around 4% per year, but considering RIT’s total returns, it seems this is a price worth paying. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images No savings at 50? I’d buy these 2 investment trusts to retire wealthy Rupert Hargreaves owns no share mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK owns shares of and has recommended Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Rupert Hargreaves | Saturday, 25th January, 2020 | More on: RCP SMT Enter Your Email Address Simply click below to discover how you can take advantage of this.