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 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.

Fidelity Advisor Convertible Security Institutional (FICVX Quick QuoteFICVX - Free Report) has a 0.76% expense ratio and 0.51% management fee. FICVX is a Convertible Bonds mutual fund, and these funds are unique in the fixed income world; these securities have components of both fixed income and equity, making them hybrid securities. With yearly returns of 10.66% over the last five years, this fund clearly wins.

Janus Henderson Global Technology Institutional (JGLTX Quick QuoteJGLTX - Free Report) is a stand out amongst its peers. JGLTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With five-year annualized performance of 11.52%, expense ratio of 0.72% and management fee of 0.64%, this diversified fund is an attractive buy with a strong history of performance.

MFS Mass Investors Growth Stock I (MGTIX Quick QuoteMGTIX - Free Report) : 0.46% expense ratio and 0.33% management fee. MGTIX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 11.83% over the last 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.