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.

Lord Abbett Growth Leaders R2 (LGLQX Quick QuoteLGLQX - Free Report) : 1.26% expense ratio and 0.51% management fee. LGLQX 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. LGLQX has achieved five-year annual returns of an astounding 15.46%.

Dreyfus Large Cap Equity I (DLQIX Quick QuoteDLQIX - Free Report) . Expense ratio: 0.76%. Management fee: 0.7%. DLQIX is a Large Cap Blend fund, targeting companies with market caps of over $10 billion. These funds offer investors a stability, and are perfect for people with a "buy and hold" mindset. This fund has managed to produce a robust 11.89% over the last five years.

Fidelity Convertible Securities (FCVSX Quick QuoteFCVSX - Free Report) . Expense ratio: 0.73%. Management fee: 0.51%. Five year annual return: 11.83%. FCVSX is categorized as a Convertible Bonds fund, and in the fixed income world, these funds are quite unique. These types of securities are a hybrid, meaning they have components of both fixed income and equity.

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.