Kenny Rogers has announced his upcoming retirement, and he'll hang up his hat after one last worldwide tour.

The singer made the announcement Friday (Sept. 25) on Today, saying, "It's happily sad or sadly happy. I'm going to do a big worldwide tour, and it's going to be my last. I'm going to say goodbye at that point; I've done this long enough.

"Sometimes there's a fine line between being driven and being selfish, and I think I crossed that line when I was younger," he says.

The reason for his retirement? His five children, including 11-year-old twin sons, Jordan and Justin.

"I really want to be there with my kids," Rogers explains, adding, "They're very important to me, and I don't see enough of them."

Plus, touring around the country has become a little harder on his 77-year-old body.

“I’m sure I will miss it. I swore that I would do this until I embarrassed myself,” he laughs. “I don’t walk around well, so I’ve found some new humor. My mobility is really driving me crazy.”

The singer will still be on the road for a good amount of time before his retirement, including his annual Christmas tour, which kicks off on Nov. 11 and hits up almost 30 cities in the U.S. and Canada before wrapping up on Dec. 23. It is in support of his sixth Christmas album, Once Again It's Christmas, out Friday (Sept. 25). The Christmas record is Rogers' 76th album overall.

After the Christmas tour, he'll embark on a worldwide adventure before packing up the tour bus for good.

Rogers' last tour stop will be at Today, he confirmed.

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