Thompson revealed earlier this week that he was burnt out with the demands of coaching the Cats and was considering his future.
But he denied reports on Friday that he had already decided to leave the Cats.
"If I am not going to coach, and I said this to (Cats CEO) Brian Cook the other day, my plan is to never coach senior footy again," Thompson said on Before The Game on Friday night.
"It's a hard job and I think I have done enough time."
Thompson has been strongly linked to Essendon in a senior mentoring role to new coach and his former premiership teammate James Hird.
But he said if he were to leave the Cats he would probably step aside from football altogether.
"If I don't end up coaching at Geelong, and that is not decided, I am going to take a bit of time off and I might have to look at doing something else," he said.
"I need to work, so whether that is in football or I have got a property down halfway between Geelong and Torquay that probably needs some work, there are lots of options out there," he said.
"I have to sit down once I stop coaching Geelong and work out where I go."
Thompson has one more season left on his coaching contract with the Cats and announced earlier in the year he would not pursue another.
But he refuted claims that he had already told his assistant Brenton Sanderson that he had decided to give it away and said he would make his mind up by Tuesday.
"That's the sort of week it's been, it's been a lot of rumours and innuendo. I haven't told anyone that at all," he said.
"He (Sanderson) rang me today and apologised for something he didn't say to somebody, so that is not the case."
