Although 401(k) plans are becoming more popular, not every worker has access to one. But if you do have a 401(k) offered at your place of work, you may be inclined to sign up. That way, you can seamlessly fund a retirement account and set yourself up for a financially secure future.

But just because you're able to save in a 401(k) plan doesn't mean that you should. Here are a few reasons to opt out of participating in your employer's 401(k).

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1. You have no emergency fund

It's definitely important to consistently set aside money for retirement savings. But your near-term emergency savings have to come first. If you have no emergency fund, you're leaving yourself vulnerable to costly debt and a host of other unfavorable financial consequences.

If you don't have funds allocated for emergency bills or a period of unemployment, it might not be a good idea to be saving in your employer's 401(k) plan. You probably shouldn't be saving in any retirement plan. Instead, take every spare dollar you can get your hands on and stick it directly into a savings account.

Once you're set on emergency savings, consider your different options for building a retirement nest egg. But you must complete your emergency fund before you start allocating money to retirement savings.

2. The fees are high

One thing 401(k) plans can be notorious for is hefty administrative fees. If that's the case with your employer's 401(k), you may want to opt out and see what fees you'll be looking at in an IRA.

Of course, there's always the option to talk to your employer and encourage them to negotiate fees with their 401(k) plan provider. But chances are, if you're looking at higher fees, it's a strategy they've already tried and failed at.

3. You're an educated investor who wants more control over your portfolio

One pitfall you might encounter when saving for retirement in a 401(k) plan is being limited to a handful of funds to invest your money in. It's common for 401(k)s to offer a mix of mutual funds, index funds, and target-date funds. But you generally can't buy and hold individual stocks in a 401(k) plan.

If you're more of a hands-off investor, that may not be a problem for you. But if you're someone who's educated about the stock market and has experience handpicking investments, then you might prefer a retirement plan that gives you more control over your portfolio. In that case, you may find that an IRA is a more suitable option for you than a 401(k) plan.

It can be tempting to participate in a 401(k) when your employer offers the option. That way, you simply have contributions deducted from your wages and can call it a day.

But if these things apply to you, signing up for your company's 401(k) plan may not be such a great idea. Just remember that you have other options and it's OK to hold off on saving for retirement if your near-term cash reserves need your full attention.