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.

If you are looking to diversify your portfolio, consider Columbia Select Large-Cap Value A (SLVAX). SLVAX 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. This fund is a winner, boasting an expense ratio of 0.82%, management fee of 0.66%, and a five-year annualized return track record of 13.05%.

Third Avenue Value Fund Investor (TVFVX): 1.36% expense ratio and 0.9% management fee. TVFVX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. With yearly returns of 16.78% over the last five years, TVFVX is an effectively diversified fund with a long reputation of solidly positive performance.

Franklin Gold & Precious Metals A (FKRCX Quick QuoteFKRCX - Free Report) is an attractive large-cap allocation. FKRCX is a Sector - Precious Metal mutual fund, typically investing in companies that are involved in the mining and production of precious metals like gold, silver, platinum, and palladium. FKRCX has an expense ratio of 0.83%, management fee of 0.48%, and annual returns of 26.7% over the past five years.

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.