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.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

Fidelity Value Fund (FDVLX Quick QuoteFDVLX - Free Report) : 0.81% expense ratio and 0.8% management fee. FDVLX is a Mid Cap Value mutual fund, which targets medium-sized companies with a market cap between $2 billion and $10 billion. FDVLX has achieved five-year annual returns of an astounding 17.2%.

Neuberger Berman Mid Cap Growth R3 (NMGRX): 1.3% expense ratio and 0.75% management fee. NMGRX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. NMGRX, with annual returns of 10.88% over the last five years, is a well-diversified fund with a long track record of success.

T. Rowe Price Science & Technology Adviser (PASTX): 1.06% expense ratio and 0.63% management fee. PASTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With a five-year annual return of 13.6%, this fund is a well-diversified fund with a long track record of success.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.