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.
"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."
"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."
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