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.

Invesco Value Opportunities A (VVOAX) has a 0.99% expense ratio and 0.6% management fee. VVOAX 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. With yearly returns of 17.02% over the last five years, this fund clearly wins.

MFS Blended Research Intl Eq I (BRXIX Quick QuoteBRXIX - Free Report) : 0.65% expense ratio and 0.35% management fee. BRXIX is a part of the Non US - Equity fund category, many of which will focus across all cap levels, and will typically allocate their investments between emerging and developed markets. BRXIX, with annual returns of 11.02% over the last five years, is a well-diversified fund with a long track record of success.

Goldman Sachs Tax Managed Equity Service Class (GCTSX): 1.19% expense ratio and 0.64% management fee. GCTSX 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. With a five-year annual return of 10.25%, this fund is a well-diversified fund with a long track record of success.

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.