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.

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

JHancock US Growth I (JSGIX Quick QuoteJSGIX - Free Report) : 0.7% expense ratio and 0.55% management fee. JSGIX 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. JSGIX has achieved five-year annual returns of an astounding 15%.

TCW Relative Value Mid Cap N (TGVNX). Expense ratio: 0.95%. Management fee: 0.7%. TGVNX is a Mid Cap Value mutual fund, which targets medium-sized companies with a market cap between $2 billion and $10 billion. This fund has managed to produce a robust 12.98% over the last five years.

American Funds Fundamental Investors R4 (RFNEX). Expense ratio: 0.63%. Management fee: 0.24%. Five year annual return: 14.24%. RFNEX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset.

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.