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.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term investors' portfolios.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

Goldman Sachs Tax Managed Equity IR (GQIRX): 0.76% expense ratio and 0.64% management fee. GQIRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. GQIRX has achieved five-year annual returns of an astounding 10.72%.

First Eagle Rising Dividend R6 (FEFRX) is a stand out amongst its peers. FEFRX is categorized as an All Cap Value fund, and like the name suggests, invests across the cap spectrum in small-cap, mid-cap, and large-cap companies. With five-year annualized performance of 10.52%, expense ratio of 0.63% and management fee of 0.5%, this diversified fund is an attractive buy with a strong history of performance.

Causeway Global Value Institutional (CGVIX Quick QuoteCGVIX - Free Report) . Expense ratio: 0.85%. Management fee: 0.8%. Five year annual return: 11.32%. CGVIX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations

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.