At an event in New York on Wednesday afternoon, legendary singer-songwriter Elton John sat down with Anderson Cooper to announce that his upcoming tour will be his last.

"It is the last time I will be touring and traveling the world," he told Cooper. "I'm a working musician, I always play, but then we [John and his husband David Furnish] had children and that changed our lives."

"That doesn't mean to say I'm not going to be creative. but I'm not going to travel."

Don't get in a panic that you have to rush out and see John right away—his tour will start in September, but will last for three years for a total of 300 shows around the world.

"Last year I picked up an infection and I was very ill and it knocked me sideways. But I still did 96 shows," confessed the "Tiny Dancer" singer.

"Believe me—if you ever do 300 shows, you're not in ill health."

John reveals that he came to decision in 2015 when he decided he wanted to retire to spend more time with his family.

"David and I sat down with a school schedule and I said, 'I don't want to miss too much of this.'"

"I'm not stopping music. I'll hopefully be making more records. I'll be writing more musicals," he explained. "But mostly, I'll be taking my kid to soccer academy - which is the most important thing."

He is promising his fans that his upcoming farewell tour will be "the best production" he has ever done, and plans to "go out with a bang, not a whimper."

John will be retiring from the road, but he will still keep himself busy. He is currently working on music for the Broadway musical adaptation of The Devil Wears Prada and on new songs for the upcoming live-action version of The Lion King.