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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

First Eagle Gold Fund I (FEGIX Quick QuoteFEGIX - Free Report) : 0.94% expense ratio and 0.75% management fee. Sector - Precious Metal funds like FEGIX normally invest in stocks focused on the mining and production of precious metals such as gold, silver, platinum, and palladium. With annual returns of 12.68% over the last five years, this fund is a winner.

Guidepath Growth Allocation Service Class (GPSTX Quick QuoteGPSTX - Free Report) : 0.63% expense ratio and 0.25% management fee. GPSTX is an Allocation Balanced mutual fund. Allocation Balanced funds look to invest across asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual; these funds are mostly categorized by their respective asset allocation. GPSTX, with annual returns of 9.06% over the last five years, is a well-diversified fund with a long track record of success.

JPMorgan Value Advantage L (JVAIX Quick QuoteJVAIX - Free Report) is an attractive large-cap allocation. JVAIX 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. JVAIX has an expense ratio of 0.65%, management fee of 0.55%, and annual returns of 8.92% 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.