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.

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

AQR Global Equity Fund R6 (AQGRX): 0.7% expense ratio and 0.6% management fee. AQGRX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. AQGRX has achieved five-year annual returns of an astounding 15.6%.

Goldman Sachs Small Cap Equity Insights R (GDSRX). Expense ratio: 1.45%. Management fee: 0.8%. GDSRX is a Small Cap Blend mutual fund that usually targets companies with a market capitalization of less than $2 billion. This fund has managed to produce a robust 10.24% over the last five years.

Alger Focus Equity A (ALAFX Quick QuoteALAFX - Free Report) : 0.91% expense ratio and 0.52% management fee. ALAFX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. With a five-year annual return of 17.42%, 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.