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.

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 investors' portfolios.

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

T. Rowe Price Growth Stock Advisor (TRSAX) has a 0.93% expense ratio and 0.51% management fee. TRSAX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With yearly returns of 12.73% over the last five years, this fund clearly wins.

Becker Value Equity Fund (BVEFX Quick QuoteBVEFX - Free Report) : 0.78% expense ratio and 0.55% management fee. BVEFX 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. BVEFX, with annual returns of 15.04% over the last five years, is a well-diversified fund with a long track record of success.

Fidelity Global Equity Income (FGILX) is an attractive large-cap allocation. FGILX 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. FGILX has an expense ratio of 0.9%, management fee of 0.82%, and annual returns of 14.54% 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.