The funds in our "Magnificent Retirement Mutual Funds" list are among the best managed and best performing mutual funds available. If you are just finding out about our Top-Ranked Funds list, we welcome you!

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using our Zacks Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

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

T. Rowe Price Global Growth Stock Retail (RPGEX Quick QuoteRPGEX - Free Report) has a 0.93% expense ratio and 0.64% management fee. RPGEX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. With yearly returns of 12.13% over the last five years, this fund clearly wins.

Fidelity Small Cap Growth (FCPGX Quick QuoteFCPGX - Free Report) is a stand out amongst its peers. FCPGX is a Small Cap Growth mutual fund and tends to feature small companies in up-and-coming industries and markets. With five-year annualized performance of 11.36%, expense ratio of 1.06% and management fee of 0.84%, this diversified fund is an attractive buy with a strong history of performance.

John Hancock2 Capital Appreciation 1 (JICPX Quick QuoteJICPX - Free Report) . Expense ratio: 0.79%. Management fee: 0.7%. Five year annual return: 16.82%. JICPX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers.

There you have it. If your financial advisor had you put your money into any of our "Magnificent Retirement Mutual Funds," then they've got you covered. If not, you may need to talk.

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Investing in underperforming mutual funds is just one of the key errors that can derail your retirement plans.

To learn more, read our just-released report: 9 Retirement Mistakes You Need to Avoid.