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.

Carillon Clarivest Capital Appr R6 (HRCUX): 0.62% expense ratio and 0.5% management fee. HRCUX 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 annual returns of 16.12% over the last five years, this fund is a winner.

Goldman Sachs Large Cap Value Insights I (GCVIX Quick QuoteGCVIX - Free Report) : 0.56% expense ratio and 0.52% management fee. GCVIX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. GCVIX, with annual returns of 12.33% over the last five years, is a well-diversified fund with a long track record of success.

Hartford Dividend & Growth HLS IB (HDGBX). Expense ratio: 0.91%. Management fee: 0.63%. Five year annual return: 12.21%. HDGBX 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.