"Absolutely," he told The Athletic's Anthony Slater. "It's just all the signs on the wall. And just more so from a physical standpoint."
Livingston has missed 16 games with a knee issue this season.
"Honestly, I mean, I'm not dying or anything," he said. "It's just more about how you feel emotionally. Health is wealth. You feel great, so you go out there and you're confident.
"But now, it's like, the work I put in my game has to be limited - which it has been the last couple years - because I have to go in the weight room, can't go on the court as much, have to stay off the knee. It's all the natural progressions of an athlete."
Livingston was a key backup on the Warriors' three championship teams and his career is already considered a triumph after he returned from a horrific knee injury sustained during his third NBA season in 2007.
Though the 33-year-old has slowed a step this campaign, averaging career lows in minutes and scoring, the decision could ultimately come down to his contract status for next season.
The Warriors must decide by June 30 whether to fully guarantee his $7.7-million deal for 2019-2020. Given their luxury-tax constraints, notes Slater, that seems unlikely.
Livingston has interest in an eventual front-office role but told Slater he wants to step away from the game for a while after retiring.
"First, I want to take a year off," he said. "Just off. Schedule is just free. Just being able to take a step back. Basketball - like a lot of my peers, teammates - it's been our life. It's been a grind forever."