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.

Janus Henderson Enterprise N (JDMNX Quick QuoteJDMNX - Free Report) has a 0.66% expense ratio and 0.64% management fee. JDMNX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. With yearly returns of 10.15% over the last five years, this fund clearly wins.

John Hancock Discipline Value Mid Cap R2 (JVMSX Quick QuoteJVMSX - Free Report) : 1.25% expense ratio and 0.71% management fee. JVMSX is a Mid Cap Value mutual funds that aims to target medium-sized companies that possess strong value and income opportunities for investors. With yearly returns of 10.01% over the last five years, JVMSX is an effectively diversified fund with a long reputation of solidly positive performance.

TIAA-CREF Large Cap Value Institutional (TRLIX Quick QuoteTRLIX - Free Report) . Expense ratio: 0.41%. Management fee: 0.4%. Five year annual return: 10.34%. TRLIX 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.

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.