The former billionaire and Indian is once again in the headlines at present, amid financial troubles for his non-F1 interests including the grounded airline Kingfisher.
And Mallya, 59, has also admitted talks with Aston Martin and Johnnie Walker about a deal involving his F1 team Force India, although he insists he wants to stay in the paddock.
But he told Indian publications on Wednesday: “I am not retiring quite yet, but as I said once you are sixty years old you must start thinking of, you know, enjoying life.
“So what is wrong in me thinking (about it)?” Mallya added.
He turns 60 in December.