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 learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

If you are looking to diversify your portfolio, consider American Funds Washington Mutual Investors R6 (RWMGX Quick QuoteRWMGX - Free Report) . RWMGX 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 is a winner, boasting an expense ratio of 0.26%, management fee of 0.22%, and a five-year annualized return track record of 11.41%.

TIAA-CREF Socl Choice Equity Institutional (TISCX Quick QuoteTISCX - Free Report) . Expense ratio: 0.18%. Management fee: 0.15%. TISCX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. This fund has managed to produce a robust 11.93% over the last five years.

JPMorgan Growth Advantage I (JGASX Quick QuoteJGASX - Free Report) is an attractive large-cap allocation. JGASX 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. JGASX has an expense ratio of 0.85%, management fee of 0.55%, and annual returns of 17.47% over the past five years.

There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.