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.

If you are looking to diversify your portfolio, consider GMO Quality VI (GQLOX Quick QuoteGQLOX - Free Report) . GQLOX 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. This fund is a winner, boasting an expense ratio of 0.41%, management fee of 0.39%, and a five-year annualized return track record of 16.33%.

JPMorgan Intrepid Growth Fund R2 (JIGZX Quick QuoteJIGZX - Free Report) . Expense ratio: 1.09%. Management fee: 0.3%. JIGZX 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 17.63% over the last five years.

MM Select Equity Asset I (MSEJX Quick QuoteMSEJX - Free Report) . Expense ratio: 0.26%. Management fee: 0.18%. Five year annual return: 16.4%. MSEJX 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.

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.