Taylor and agent Drew Rosenhaus approached the Jaguars before training camp to talk about a new contract, then again last week during the club's bye week.
Rosenhaus declined comment when reached on Friday, but Taylor didn't hesitate to voice his thoughts, which included the possibility of retiring.
"It's crossed my mind, the more and more things are taken away from me, like playing time," Taylor said. "You exert so much energy into one cause and it's not reciprocated. It's like putting money into an ATM machine. You keep putting money in, but every time you use your card, it says insufficient funds.
"At some point, you're going to quit putting money into it."
Paul Vance, the Jaguars senior vice president of football operations, declined comment when reached on Friday.
"I think Fred felt he would like to talk about a contract," Jaguars owner Wayne Weaver said back in July. "We still have a number of years left on Fred's contract [which expires in 2008], and we felt the timing wasn't right [for a new deal]."
Through five games this season, Taylor is eighth in the AFC in rushing (367 yards). He ranks No. 5 in career yardage (8,734 yards) among active running backs. Yet Taylor's rushing numbers have diminished somewhat this season, in part because of the emergence of rookie running back Maurice Drew.
"Let me say that I'm fine with the rotation system," Taylor said. "But I've got incentives [in my contract]. How can I reach them when you're cutting my playing time? I start thinking about little things like that when I see other guys around the league with the same numbers as me, but they don't have to earn their money through incentives."
Taylor's incentive-heavy contract includes him receiving $40,000 for each game he dresses, which cost him $200,000 last season because he missed five games. He also receives $140,000 for reaching 1,300 yards and another $140,000 for each 100 yards after that, up to 1,600.
"We're just asking to turn the incentives into real money," Taylor said. "It's killing me. That makes me think of wanting to be traded or to retire. It's one or the other. I guarantee that if Greg [Jones, who suffered a season-ending injury] was here, I would've been on the [trading] block."