There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.

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.

Fidelity Select Energy Portfolio

(FSENX): 0.73% expense ratio and 0.66% management fee. FSENX is classified as a Sector - Energy mutual fund. Throughout the massive global energy sector, these funds hold a wide range of quickly changing and vitally important industries. FSENX has achieved five-year annual returns of an astounding 14.4%.

Royce PA Mutual Fund Investor

(PENNX): 0.93% expense ratio and 0.76% management fee. PENNX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. PENNX, with annual returns of 11.65% over the last five years, is a well-diversified fund with a long track record of success.

American Funds Growth Portfolio R3

(RGPCX): 0.65% expense ratio and 0% management fee. RGPCX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 12.63% 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.

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