78-year-old Hollywood actor Sylvester Stallone has admitted he can't retire because of the upcoming expenses for his eldest daughter Sophia's wedding, infohub.kz reports.

The star joked about his financial plans on the morning TV show Live with Kelly and Mark. When host Kelly Ripa asked how much the upcoming celebration would cost him, the 78-year-old actor laughed and said he would have to keep working.

Stallone stressed that he was absolutely serious, even though his words drew laughter from the studio audience.

The actor's eldest daughter, 28-year-old Sophia Stallone, got engaged to her boyfriend Michael Shihan in August. Stallone noted that his daughter's fiancé had asked for his permission to marry beforehand and made the best impression on him.

Stallone is raising three daughters — Sophia, Sistine, and Scarlet — with his wife Jennifer Flavin. The actor admitted that his wife constantly helps him keep his emotions in check and acts as a peacemaker during family discussions about the celebration. According to the Hollywood star, he shares a particularly warm relationship with his daughter Sophia, so he is ready to spare no expense for her happiness.