Boost Your Retirement Portfolio with These 3 Top Mutual Funds - August 05, 2020

The funds in our "Magnificent Retirement Mutual Funds" list are some of the top-performing, best managed funds available. If you're already invested in them, congratulations! If you're not, don't worry - it's never too late to start getting the advantages of these outstanding funds for your retirement.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using our Zacks Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

Let's break down some of the mutual funds with the highest Zacks Rank and the lowest fees.

MSIFT Mid Cap Growth Portfolio IS (MMCGX): 0.65% expense ratio and 0.5% management fee. MMCGX is a Mid Cap Growth mutual fund. These mutual funds choose companies with a stock market valuation between $2 billion and $10 billion. With annual returns of 22.7% over the last five years, this fund is a winner.

American Funds AMCAP F2 (AMCFX): 0.45% expense ratio and 0.3% management fee. AMCFX 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. With yearly returns of 10.39% over the last five years, AMCFX is an effectively diversified fund with a long reputation of solidly positive performance.

Hartford Core Equity R3 (HGIRX). Expense ratio: 1.1%. Management fee: 0.34%. Five year annual return: 10.04%. HGIRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset.

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.

Do You Know the Top 9 Retirement Investing Mistakes?

Investing in underperforming mutual funds is just one of the key errors that can derail your retirement plans.

To learn more, read our just-released report: 9 Retirement Mistakes You Need to Avoid.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.