Raul will not be rushing into a non-playing role with Real Madrid after bringing his professional career to a close on Sunday.
The 38-year-old helped New York Cosmos to the North American Soccer League (NASL) title with a 3-2 triumph Ottawa Fury in his final outing.
While admitting he still had a passion for football, the Spaniard - who scored 323 goals and won 16 titles with Madrid - will take time away from the game before assessing his next move.
"I'll always have this passion for the game but now it will take another path," Raul said.
"There is time ahead to discuss [what I will do] and I will speak about that. At the moment I want some time to enjoy things.
"My future is in New York, I plan to spend some time with the family and then we'll see."
On Monday, Real Madrid president Florentino Perez stated that Raul will always be welcome at the Santiago Bernabeu.
"Real Madrid is my home. The club has always had the door open for a return but it's not the time," Raul added.
"I need to take a break. I'll always watch and support Real Madrid."