"I had some good success against India but I think you can't win everything and you can't achieve everything you want to do," Waugh said.
"Some things are left for others to achieve and if they do win, I'll feel as I have played my part in that success anyway," the veteran of 168 Tests was quoted as saying by an Australian website.
Waugh, who announced his retirement from international cricket after a Test-series at home against India late last year, said he had no wish to come out of retirement.
He also said he was enjoying the luxury of not having to train and being able to spend more time at home with his family.
"The two things I miss are the competition and the camaraderie and I don't miss the plane flights, I don't miss dealing with the media every day and I don't miss the politics that's involved in sport," the 39-year-old said.
"Now I put my family stuff in the diary first and work fits around that. Earlier, cricket used to go in the diary first and you would try to fit the family around that."
Waugh, who was in Perth as part of his official duties as the Australian of the Year, is currently working on a motivational video to be distributed to school children, doing charity work and writing a new book.