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

Columbia Seligman Communications and Information R5 (SCMIX): 0.86% expense ratio and 0.81% management fee. With a much more diversified approach, SCMIX--part of the Sector - Tech mutual fund category--gives investors a way to own a stake in the notoriously risky tech sector. With annual returns of 24.19% over the last five years, this fund is a winner.

T. Rowe Price US Equity Research (PRCOX): 0.49% expense ratio and 0.32% management fee. PRCOX 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. PRCOX, with annual returns of 13.1% over the last five years, is a well-diversified fund with a long track record of success.

Goldman Sachs Growth & Income Service Class (GSGSX Quick QuoteGSGSX - Free Report) . Expense ratio: 1.19%. Management fee: 0.69%. Five year annual return: 10.98%. GSGSX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value.

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.