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 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.

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

Ivy Large Cap Growth A (WLGAX Quick QuoteWLGAX - Free Report) : 0.93% expense ratio and 0.61% management fee. WLGAX 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 annual returns of 13.8% over the last five years, this fund is a winner.

BlackRock Long-Horizon Equity I (MAEGX Quick QuoteMAEGX - Free Report) : 0.95% expense ratio and 0.8% management fee. MAEGX 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. MAEGX, with annual returns of 11.12% over the last five years, is a well-diversified fund with a long track record of success.

Schwartz Value Fund (RCMFX Quick QuoteRCMFX - Free Report) . Expense ratio: 1.16%. Management fee: 0.8%. Five year annual return: 13.6%. RCMFX is a Small Cap Value fund, and these funds are known for investing in companies with market caps under $2 billion.

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.