Carragher is reluctant to overstay his welcome at Anfield, with it important for him to bow out at the top.
He told the Daily Mirror: "I'd been thinking for a while: How do you get out? How do you finish with Liverpool? And a quote I'd read years ago from a foreign player stuck with me: 'Leave the football before football leaves you'.
"I've always had that in the back of my mind. Especially as I've been at Liverpool all of my life and I never want to let the club or supporters down.
"I'm not stupid. New players will come in and at my age I could be back on the bench next season. There might even be games where I don't make the bench. Imagine walking around Anfield in a suit on a match day when you're fit to play.
"Of course there will be things I miss, like the great camaraderie in the dressing room after a good result, but I won't miss the bit where you've lost the game and you're devastated."