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 way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

Touchstone Growth Opportunities A (TGVFX): 1.03% expense ratio and 0.6% management fee. TGVFX 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 12.49% over the last five years, this fund is a winner.

LSV Global Value Institutional (LSVGX) is a stand out amongst its peers. LSVGX 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 With five-year annualized performance of 13.79%, expense ratio of 0.9% and management fee of 0.75%, this diversified fund is an attractive buy with a strong history of performance.

GMO Intl Developed Equity Alloc R6 (GAAWX Quick QuoteGAAWX - Free Report) : 0.01% expense ratio and 0% management fee. GAAWX 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 a five-year annual return of 14.33%, this fund is a well-diversified fund with a long track record of success.

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.