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 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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Rydex Nova Investor (RYNVX Quick QuoteRYNVX - Free Report) has a 1.28% expense ratio and 0.75% management fee. RYNVX 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 12% over the last five years, this fund clearly wins.

JPMorgan US Equity Fund R5 (JUSRX Quick QuoteJUSRX - Free Report) : 0.54% expense ratio and 0.4% management fee. JUSRX 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. JUSRX, with annual returns of 12.3% over the last five years, is a well-diversified fund with a long track record of success.

Columbia Dividend Income Fund R5 (CDDRX Quick QuoteCDDRX - Free Report) . Expense ratio: 0.6%. Management fee: 0.53%. Five year annual return: 10.13%. CDDRX 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.

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.