Carragher admits not being regarded as a "traitor" by fans is important to him.
"How do you go out when you have been at the club for so long?" he told the Daily Express. "Can you imagine the reaction if I had been looking to move on around the time of the two Champions League finals?
"Look at Steve McManaman. He left when he was 27, in his prime, and went to Real Madrid and he is not thought that well of here now.
"I would rather have done what I've done but sometimes, towards the end of your career, people say, 'He shouldn't be playing, he's too old, he's gone'.
"When you do finish, it's a case of, 'He should have gone 12 months ago'. But if you did finish when you were playing at your best, people would say you're a traitor."