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.

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

Columbia Seligman Communications and Information R5 (SCMIX) has a 0.87% expense ratio and 0.81% management fee. SCMIX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With yearly returns of 19.69% over the last five years, this fund clearly wins.

JPMorgan Developed Intl Value L (JNUSX Quick QuoteJNUSX - Free Report) : 0.64% expense ratio and 0.55% management fee. JNUSX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. JNUSX, with annual returns of 17.96% over the last five years, is a well-diversified fund with a long track record of success.

Neuberger Large Cap Val R6 (NRLCX) is an attractive large-cap allocation. NRLCX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. NRLCX has an expense ratio of 0.5%, management fee of 0.47%, and annual returns of 10.73% over the past five years.

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.