Raul will not rule out taking up any position, including that of president, when he decides to return to Real Madrid.
The 38-year-old became an icon at the Santiago Bernabeu, lifting numerous trophies and becoming the club's record goalscorer with 323 strikes - a total only since bettered by Cristiano Ronaldo.
After spells at Schalke, Al Sadd and the New York Cosmos, Raul opted to call time on his glittering playing career last December.
The former Spain international has since taken on the role of La Liga ambassador to the United States, a position which, for the time being, he remains solely focused on.
However, further down the line the 38-year-old envisages a return to Real Madrid, and even suggested it could be in a presidential capacity.
"I do not rule out any position in football, not even the president. Having a successful career as a player does not ensure that you will be a good coach, I have to prepare myself," Raul told El Larguero.
"Madrid have always kept their doors open and I have a good relationship with the president. It is I who has taken the decision on remain in New York.
"There will be a time to return to Real Madrid but I'm in the right place. I am still thinking of Real Madrid and I hope they continue winning titles."
Raul praised the appointment of Zinedine Zidane as coach following the dismissal of Rafael Benitez, stating he already sees a difference in the team and feels the Frenchman can lead them to success.
"With the change of coach the team is more cheerful, playing good football. When you change coach it's because things have not gone well," he added.
"With Zidane the team will have many more options to win important things like La Liga and the Champions League.
"He had been with the group, with [Carlo] Ancelotti, he knew them and it was a great opportunity to raise the morale of the team.
"In the last two games they are much happier doing things that in recent months they did not."