The daily said that the 2002 World Cup winner was in Mogi Mirim with his two sons Rivaldinho and Thamyris after being released from his contract with European champions AC Milan.
Rivaldo, 31, is widely reported to have had offers from clubs in the English Premier League but could also decide to return and play club football in Brazil, the report said.
His agent Jose Carlos Lages was quoted as saying that the introverted striker, who has avoided all contact with the media since returning home, would announce a decision soon.
Milan said last Monday that they had ended Rivaldo's contract, which had another 18 months to run, by "common accord", leaving him free to find a new club when the transfer market re-opens.
A similar arrangement was agreed in September before the 31-year-old
Since then, Rivaldo made one substitute appearance in the Champions League and did not feature in Serie A.
Rivaldo joined Milan from Barcelona after winning the World Cup with Brazil in 2002 but never reproduced the form that made him such a success in Spain.
After a low-key first season he was left on the bench for the Champions League final against Juventus.
Rivaldo recently described the past year as the worst of his career while Brazilian media have criticised Milan coach Carlo Ancelotti.
However he kept his place in the Brazil team and scored his team's goal in last month's 1-1 draw away to Peru in a qualifier for the 2006 World Cup.
Rivaldo made his name playing for Mogi Mirim in 1993 when he scored a goal from the halfway line in a Paulista championship match.