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 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.

Goldman Sachs Intl T/M Eq P (GGCPX Quick QuoteGGCPX - Free Report) : 0.89% expense ratio and 0.85% management fee. GGCPX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. GGCPX has achieved five-year annual returns of an astounding 11.98%.

Nuveen LargeCap Value Premier (TRCPX): 0.55% expense ratio and 0.39% management fee. TRCPX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. TRCPX, with annual returns of 10.81% over the last five years, is a well-diversified fund with a long track record of success.

JPMorgan US Rsrch Enhanc Equity A (JDEAX). Expense ratio: 0.6%. Management fee: 0.25%. Five year annual return: 13.56%. JDEAX 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.

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.