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.

The easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

Let's break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Cullen Emg Mrkts High Dividend Rtl (CEMDX Quick QuoteCEMDX - Free Report) has a 1.25% expense ratio and 1% management fee. CEMDX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. With yearly returns of 14.37% over the last five years, this fund clearly wins.

Schwab MarketTrack Allocation Equity Portfolio (SWEGX) is a stand out amongst its peers. SWEGX is classified as an Allocation Balanced fund, which seeks to invest in a balance of asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual. With five-year annualized performance of 11.76%, expense ratio of 0.38% and management fee of 0.13%, this diversified fund is an attractive buy with a strong history of performance.

Columbia Seligman Communications and Information R5 (SCMIX): 0.87% expense ratio and 0.81% management fee. SCMIX is part of the Sector - Tech mutual fund category that invests in technology and lets investors own a stake in a notoriously volatile sector, but with a much more diversified approach. With a five-year annual return of 19.69%, this fund is a well-diversified fund with a long track record of success.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.