The Spaniard's contract expires in the summer and, given his increasingly downbeat mood in recent weeks, it looks unlikely he will sign a new deal.
"This club was an opportunity to be in the top 10," he said when asked why he has not already quit.
"We couldn't save the team in the first year and then we won the Championship, so we said, "OK, now is the time (to invest)".
"Then you say the first year back in the Premier League is quite difficult but we finished 10th, "now is the time".
"Then it's the third year, and you try, you try, but…' Benitez sighed, before he added: 'I had teams and agents talking (to me) with more money than here.
"Still I want to do something here, I want to stay in England. I'm close to my family, the fans have been fantastic, so you try to do something properly.
"It's a challenge, but it's a risk. Yes, it's a risk. I will try to do my best to win every single game, but obviously it depends on the players that you have."