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.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

Franklin Small Cap Growth R (FSSRX Quick QuoteFSSRX - Free Report) : 1.35% expense ratio and 0.62% management fee. FSSRX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. FSSRX has achieved five-year annual returns of an astounding 10.81%.

John Hancock2 Fundamental Global Franchise I (JFGIX Quick QuoteJFGIX - Free Report) : 1.02% expense ratio and 0.8% management fee. JFGIX is a Global - Equity mutual fund, which invests their assets in large markets, leveraging the global economy. JFGIX, with annual returns of 10.9% over the last five years, is a well-diversified fund with a long track record of success.

Great-West Loomis Sayles Small Cap Value (MXLSX Quick QuoteMXLSX - Free Report) : 1.09% expense ratio and 0.71% management fee. MXLSX is an All Cap Value mutual fund, which invests in small, medium, and large-cap companies, though they end up focusing on bigger firms due to percentage of assets. With a five-year annual return of 12.25%, this fund is a well-diversified fund with a long track record of success.

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.