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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.

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

Fidelity Advisor Series Equity Growth (FMFMX - Free Report) has a 0.01% expense ratio and 0% management fee. FMFMX 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 yearly returns of 14.76% over the last five years, this fund clearly wins.

Goldman Sachs Blue Chip US Equity Institutional (GINGX - Free Report): 0.67% expense ratio and 0.55% management fee. GINGX 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. GINGX, with annual returns of 10.79% over the last five years, is a well-diversified fund with a long track record of success.

Neuberger Berman Guardian A (NGDAX - Free Report): 1.06% expense ratio and 0.74% management fee. NGDAX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion or more, but whose share prices do not reflect their intrinsic value. With a five-year annual return of 13.08%, this fund is a well-diversified fund with a long track record of success.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.

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