The Toffees legend opted to leave the club when his contract expired in June and the veteran defender was keen to keep playing for at least another season.
Coleman confirmed he opted against a summer free transfer move to EFL Championship side Sheffield United as the 38-year-old kept his options open.
David Moyes confirmed Coleman was offered a coaching role at Everton, but he accepted his desire not to hang up his boots just yet, as he wants to remain in the Republic of Ireland squad heading towards UEFA Euro 2028 qualification.
However, after failing to find a new club, Coleman was omitted from the Ireland squad for the September/October window and retirement could now be the next step ahead of November's double header.
"I've been keeping fit, but it is edging towards that way, and happily as well.
"Mentally, physically, just to keep ticking over. I enjoy training, but you're not with a ball and that.
"Regarding what's next, I've been enjoying family time. I'm doing some punditry now, and seeing if I enjoy it, and see how it goes. It's an open book at the minute.
"I had the hope and ambition of maybe, possibly playing on.
"But, the longer I've been off, and the more I've been around the family and back home for the Halloween break with the kids and stuff like that, the more content I am with what I'm doing at the minute."