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.

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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Selected American Shares D (SLADX): 0.65% expense ratio and 0.55% management fee. SLADX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. SLADX has achieved five-year annual returns of an astounding 12.19%.

abrdn Emerg Markets ex-China IS (GLLSX). Expense ratio: 0.96%. Management fee: 0.75%. GLLSX 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 This fund has managed to produce a robust 13.62% over the last five years.

Goldman Sachs Large Cap Growth Insights I (GCGIX Quick QuoteGCGIX - Free Report) : 0.54% expense ratio and 0.5% management fee. GCGIX 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 11.32%, 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.