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.

Alger Capital Appreciation Focus I (ALGRX Quick QuoteALGRX - Free Report) has a 0.91% expense ratio and 0.52% management fee. ALGRX 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. With yearly returns of 10.49% over the last five years, this fund clearly wins.

Fidelity Advisor Semiconductors M (FELTX Quick QuoteFELTX - Free Report) . Expense ratio: 1.26%. Management fee: 0.52%. FELTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. This fund has managed to produce a robust 16.11% over the last five years.

Neuberger Berman Guardian Investor (NGUAX Quick QuoteNGUAX - Free Report) is an attractive large-cap allocation. NGUAX 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. NGUAX has an expense ratio of 0.81%, management fee of 0.74%, and annual returns of 11.42% 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.