It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.

The easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.

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

Putnam Small Cap Growth Y (PSYGX Quick QuotePSYGX - Free Report) : 0.99% expense ratio and 0.73% management fee. PSYGX is one of many Small Cap Growth mutual funds; these funds tend to create their portfolios around stocks with market capitalization of less than $2 billion. With annual returns of 13.82% over the last five years, this fund is a winner.

Wells Fargo Discipl US Core R6 (EVSRX Quick QuoteEVSRX - Free Report) : 0.43% expense ratio and 0.35% management fee. EVSRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. EVSRX, with annual returns of 10.76% over the last five years, is a well-diversified fund with a long track record of success.

JPMorgan Growth Advantage A (VHIAX Quick QuoteVHIAX - Free Report) . Expense ratio: 1.1%. Management fee: 0.55%. Five year annual return: 15.55%. VHIAX 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.

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.