"If I'm realistic, I'm not going to be here in ten years," Vettel told Motorsport.com.
"So I think this is something you naturally start to think about.”
"I think I'm in a very fortunate position that I can probably try and do a lot of things, once I have decided to stop racing in F1. Maybe race something else, maybe do something different in motorsport or do something completely different outside.
"I have some ideas, but I haven't decided. I'm quite relaxed."
Vettel does confess that money will be a factor in any ongoing negotiations with Ferrari as F1 drivers have shorter careers than most, while putting themselves in significant danger, but says the most important thing in his career is simply happiness.
"It depends what's important to you, what drives you," he said of why he would remain in the sport.
"And that's fair. If money is your motivator then it can drive you very far and make you very successful.
"There's a lot of sportsmen, businessmen that thrive for money. I think the question really is whether people have a sense of enough. That's not just valid for Formula 1.
"We are putting our life in a way also on the line, then you need to show some appreciation for that. Our careers also are shorter than some other careers.
"I think the really important thing is that you are happy, that’s the key.
"Obviously, F1 is a bit of a circus and spoiled circus. Because they have a lot of money involved and money tends to spoil people.
"I think on average that's true. But the question is, like I said, if you have a sense of enough."
At the moment, due to the coronavirus pandemic, there are no guarantees that Vettel will actually be able to race in 2020 before his current contract expires.
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