Make the Most of Your Retirement with These Top-Ranked Mutual Funds

It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.

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 Balanced R4 (RLBEX) has a 0.6% expense ratio and 0.21% management fee. RLBEX is an Allocation Balanced mutual fund. Allocation Balanced funds look to invest across asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual; these funds are mostly categorized by their respective asset allocation. With yearly returns of 10.79% over the last five years, this fund clearly wins.

Janus Henderson Research I (JRAIX): 0.77% expense ratio and 0.53% management fee. JRAIX 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. JRAIX, with annual returns of 17.69% over the last five years, is a well-diversified fund with a long track record of success.

Goldman Sachs US Tax Mgd Eq R6 (GCTRX) is an attractive large-cap allocation. GCTRX 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. GCTRX has an expense ratio of 0.69%, management fee of 0.64%, and annual returns of 16.2% over the past five years.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.

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This article originally published on Zacks Investment Research (zacks.com).

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