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.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

Fidelity Advisor Energy Fund I (FANIX Quick QuoteFANIX - Free Report) has a 0.73% expense ratio and 0.53% management fee. FANIX is a Sector - Energy fund, which are comprised of various changing and hugely important industries throughout the massive global energy sector. With yearly returns of 12.7% over the last five years, this fund clearly wins.

TIAA-CREF Large Cap Growth Retail (TIRTX Quick QuoteTIRTX - Free Report) . Expense ratio: 0.68%. Management fee: 0.4%. TIRTX 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. This fund has managed to produce a robust 13.27% over the last five years.

Wells Fargo Special Mid Cap Value Admiral (WFMDX Quick QuoteWFMDX - Free Report) : 1.05% expense ratio and 0.66% management fee. WFMDX is a Mid Cap Value mutual funds that aims to target medium-sized companies that possess strong value and income opportunities for investors. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 9.91% over the last five years.

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.