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.

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

American Funds Growth and Income Portfolio R6 (RGNGX Quick QuoteRGNGX - Free Report) : 0.01% expense ratio and 0% management fee. RGNGX 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. RGNGX has achieved five-year annual returns of an astounding 10.19%.

AB Large Cap Growth R (ABPRX Quick QuoteABPRX - Free Report) : 1.23% expense ratio and 0.48% management fee. ABPRX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. With yearly returns of 16.15% over the last five years, ABPRX is an effectively diversified fund with a long reputation of solidly positive performance.

JPMorgan Large Cap Value Fund A (OLVAX Quick QuoteOLVAX - Free Report) is an attractive large-cap allocation. OLVAX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. OLVAX has an expense ratio of 0.93%, management fee of 0.4%, and annual returns of 12.89% 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.