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 easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.

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

Vanguard Windsor-II Investor (VWNFX) has a 0.33% expense ratio and 0.31% management fee. VWNFX 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. With yearly returns of 12.58% over the last five years, this fund clearly wins.

AQR Equity Market Neutral R6 (QMNRX) is a stand out amongst its peers. QMNRX is a Market Neutral - Equity mutual fund. These portfolios usually hold 50% of their securities in a long position, as well as 50% in a short position. With five-year annualized performance of 20.7%, expense ratio of 1.19% and management fee of 1.1%, this diversified fund is an attractive buy with a strong history of performance.

Alger Focus Equity Z (ALZFX Quick QuoteALZFX - Free Report) : 0.66% expense ratio and 0.52% management fee. ALZFX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 17.32% over the last 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.