The 301-game veteran met with coach John Longmire and CEO Andrew Ireland on Thursday and was told to take his time before making a call.
"I've got a couple of weeks to have a bit of a think," Bolton said at the Swans' premiership parade in Sydney's CBD on Friday.
"I had a good chat to John Longmire and Andrew Ireland yesterday and I'm really privileged that they've said 'just take your time, make a decision not just for 12 months but for a life decision'.
"Certainly it still burns, it's an addictive feeling winning premierships and winning grand-finals and I know the strength of our list and the improvement that we can make, but we'll deal with all that at the right time."
Fellow 300-gamer Adam Goodes urged Bolton to play on in 2013: "Definitely, I'd love for Jude to play and love for all of the players that played in the premiership team to make sure they've got contracts and continue this fantastic thing that we've started."
Midfielder Kieren Jack also wants Bolton to keep playing but says he'll understand if the 32-year-old chooses to go out on a high.
"I'd love to play with him again, I love playing with Jude Bolton he's a fantastic player but if he thinks he's had enough it's a great way to go out," Jack said.
Sydney will be attempting to win back-to-back premierships for the first time in the club's history - including their time as South Melbourne.
The Swans' 2005 premiership side came agonisingly close to defending their crown, losing by point to West Coast in the '06 grand final.
Asked if the current team can go one better than the '05 side and defend their premiership, Bolton replied: "Obviously they're different eras so there's only a couple of us old guys that are still around from that time.
"But I think just the fact that we get even contributions from all our guys just means we're going to be competitive week in, week out."
Goodes said of the Swans' chances of going back-to-back: "That's the big challenge, I wouldn't mind just celebrating this one first and having a bit of a break before even thinking about that."But I've got no doubt that that's why I'm going to continue to play football and that's to keep getting better and hopefully win another premiership."