Out singer Elton John on Wednesday announced that he will retire from touring after a lengthy 300-date farewell tour.

"I'm not going to be touring anymore," he said during a press conference in New York. "I'm not going to be touring and traveling the world. My priorities have changed. I have young children."

John said that his upcoming Farewell Yellow Brick Road tour – which he described as “the most produced, fantastic show I've ever done” – would be his last.

“That doesn't mean I won't still be creative," he said. "But I won't travel any more. … I don't want to go out with a whimper. I want to go out with a bang.”

John and husband David Furnish are raising two young boys.

“I'm 71. I can't physically do the traveling anymore. I want to be at home. I really want to spend time with my children at home. I've had an incredible life, but life is all about change,” he said.

In 1977, John announced that he would no longer perform live. “I've made a decision tonight that this is going to be the last show,” he told a stunned crowd in London. But he returned to the stage two years later.

At Wednesday's event he insisted that this was his last tour. “I'm not Cher,” he said, a reference to Cher's comebacks.

The Farewell Yellow Brick Road tour kicks off September 8 in Allentown, Pennsylvania's PPL Center.