Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.

The best way to shortlist great mutual funds is to ensure solid performance, diversification, and low fees. Some are better than others, but utilizing the Zacks Mutual Fund Rank, we have identified three mutual funds that could be solid additions to one's retirement portfolio.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Deutsche Science and Technology S (KTCSX Quick QuoteKTCSX - Free Report) : 0.73% expense ratio and 0.45% management fee. KTCSX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With annual returns of 17.52% over the last five years, this fund is a winner.

Fidelity Fund K (FFDKX Quick QuoteFFDKX - Free Report) : 0.37% expense ratio and 0.32% management fee. FFDKX is a Large Cap Blend fund, targeting companies with market caps of over $10 billion. These funds offer investors a stability, and are perfect for people with a "buy and hold" mindset. With yearly returns of 14.03% over the last five years, FFDKX is an effectively diversified fund with a long reputation of solidly positive performance.

MFS Mass Investors Growth Stock R3 (MIGHX Quick QuoteMIGHX - Free Report) . Expense ratio: 0.71%. Management fee: 0.33%. Five year annual return: 14.1%. MIGHX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.