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.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

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

DFA Selectively Hedged Global Equity I (DSHGX Quick QuoteDSHGX - Free Report) : 0.32% expense ratio and 0.24% management fee. DSHGX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. With annual returns of 10.46% over the last five years, this fund is a winner.

Janus Henderson Research A (JRAAX Quick QuoteJRAAX - Free Report) . Expense ratio: 0.81%. Management fee: 0.48%. JRAAX 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. This fund has managed to produce a robust 15.58% over the last five years.

Transamerica Large Value Opps R4 (TLOFX Quick QuoteTLOFX - Free Report) . Expense ratio: 0.75%. Management fee: 0.45%. Five year annual return: 9.04%. TLOFX 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.

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.