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.

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 Growth & Income R (GRGRX Quick QuoteGRGRX - Free Report) : 1.24% expense ratio and 0.69% management fee. GRGRX 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. GRGRX has achieved five-year annual returns of an astounding 10.59%.

ClearBridge SMASh Series EM (LCSMX): 0.07% expense ratio and 0% management fee. LCSMX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. LCSMX, with annual returns of 11.25% over the last five years, is a well-diversified fund with a long track record of success.

Columbia Seligman Global Technology R5 (SGTTX). Expense ratio: 0.96%. Management fee: 0.91%. Five year annual return: 25.18%. SGTTX 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.

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.