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After decades in the business, Sylvester Stallone can’t slow down because he’s got bills to pay!

On Tuesday (October 13), the 80-year-old Rocky actor appeared on Live With Kelly and Mark where he joked that he “can’t retire” because he has to pay for daughter Sophia‘s wedding.

If you didn’t see the news, Sophia, 30, who is the eldest daughter of Sylvester and wife Jennifer Flavin, announced last month that she is engaged to longtime boyfriend Michael Sheehan.

“One of my daughters is getting married,” Sylvester shared on the ABC morning talk show. “[She] found a great guy. He came into the room … he actually asked for her hand.”

Kelly Ripa joked that Sophia‘s now-fiancé must have been “terrified” to ask Sylvester for his blessing before popping the questions.

“He was very confident and I went, ‘Wow, good luck pal,’” he recalled. “My wife had to be there to be [the] referee.”

When asked how much he was “going to pony up” for the wedding, Sylvester answered, “Oh man, it’s almost embarrassing to say, but I can’t retire. I can’t retire, I’m serious.”

He went on to confess that he’s been trying to convince Sophia to elope in Las Vegas instead, and he’ll give her the money he would have spent on the wedding.

“I said, ‘Why don’t you guys go to Vegas? I’ll give you the money. Have Elvis marry you for $5 … and take what I would have spent,'” Sylvester said.

Along with Sophia, Sylvester and Jennifer, 58, are also parents to daughters Sistine, 28, and Scarlet, 24. He also had two sons with ex-wife Sasha Czack: Seargeoh, 47, and Sage, who died in 2012 at 36.

In another recent interview, Sylvester Stallone revealed the extreme toll his physique took on his body during the height of his Rocky fame.

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