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 easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

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

VY T. Rowe Price Diversified Mid Cap Growth S2 (IAXTX): 1.2% expense ratio and 0.74% management fee. IAXTX is a Mid Cap Growth mutual fund. These mutual funds choose companies with a stock market valuation between $2 billion and $10 billion. With annual returns of 11.46% over the last five years, this fund is a winner.

Selected American Shares D (SLADX): 0.65% expense ratio and 0.55% management fee. SLADX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. SLADX, with annual returns of 15.67% over the last five years, is a well-diversified fund with a long track record of success.

DWS CROCI US Institutional (DCUIX Quick QuoteDCUIX - Free Report) is an attractive large-cap allocation. DCUIX 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. DCUIX has an expense ratio of 0.67%, management fee of 0.43%, and annual returns of 12.68% 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.