Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.

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 take a look at some of our top-ranked mutual funds with the lowest fees.

AB Large Cap Growth K (ALCKX Quick QuoteALCKX - Free Report) : 0.94% expense ratio and 0.48% management fee. ALCKX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. ALCKX has achieved five-year annual returns of an astounding 12.4%.

Fidelity Advisor Diversified Stock M (FDTEX Quick QuoteFDTEX - Free Report) : 1.12% expense ratio and 0.4% management fee. FDTEX 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. FDTEX, with annual returns of 10.43% over the last five years, is a well-diversified fund with a long track record of success.

Neuberger Berman Guardian Trust (NBGTX Quick QuoteNBGTX - Free Report) : 1.05% expense ratio and 0.88% management fee. NBGTX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 13.11% over the last five years.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.