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.

Let's break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Neuberger Berman Mid Cap Growth R6 (NRMGX Quick QuoteNRMGX - Free Report) : 0.6% expense ratio and 0.53% management fee. NRMGX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. NRMGX has achieved five-year annual returns of an astounding 11.85%.

ClearBridge Large Cap Value R (LCBVX Quick QuoteLCBVX - Free Report) . Expense ratio: 1.39%. Management fee: 0.49%. LCBVX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. This fund has managed to produce a robust 12.25% over the last five years.

Principal Large Cap Growth I A (PLGAX Quick QuotePLGAX - Free Report) . Expense ratio: 1%. Management fee: 0.6%. Five year annual return: 15.29%. PLGAX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.