The experienced shot-stopper has explained the thinking behind his decision to walk away from the national team despite a World Cup looming on the horizon
Schwarzer called it quits on a 20-year international career this week, bringing down the curtain after 109 illustrious games for his country.
The 41-year-old admitted the decision was difficult but had to be made as he no longer felt fully committed to his role in the team, just seven months out from the World Cup in Brazil.
"I felt that I couldn't give it the commitment that I feel needed to be given to represent your country at a high level and also the World Cup," Schwarzer told Fox Sports on Friday.
"Physically I feel really good but mentally it was the biggest challenge.
"I just knew it was the right time to move on and pass on the baton as they say and sit back and let someone else take over."
Schwarzer was set to be named in Ange Postecoglou's squad for the upcoming friendly with Costa Rica, before deciding to walk away.
The Chelsea gloveman is adamant he wasn't pushed into retirement by the new national coach and insists his decision had been a long time in the making.
"It's been something that I've been playing in my head for quite some time now," Schwarzer said.
"I know for a lot of people it's kind of a surprise that I would've made such a decision - maybe a sudden decision.
"But it definitely hasn't been a sudden decision. You don't go playing for the Socceroos for 20 years and make a sudden decision like that.
"I'm at a point in my kids' lives and for my wife, I need to be around more to play a part of being a normal dad."
Asked about who he thinks should take his mantle as the new Socceroos number one, Schwarzer said: "There's a lot of good goalkeepers out there.
"Mitch Langerak played extremely well the last couple of games, we've got Mat Ryan whose playing over in Belgium, Adam Federici at Reading.
"There's a long list and we've always been fortunate enough to have some very good goalkeepers."