It's official! Aretha Franklin will be retiring from the stage and resting on her laurels after the release of her final full-length album this year.

However, the Queen of Soul emphasized that this isn't the last her fans will ever hear of her; this retirement just marks the end of her touring years. Franklin, who is 74 years old, will still continue to make music.

"I am retiring this year," Franklin told Detroit's WDIV Local 4 station. "I will be recording, but this will be my last year in concert. This is it."

According to BBC, the famous singer is retiring so she can spend more time with her grandchildren and family. Also, the media has been buzzing the past few years with news of her recent health problems.

All in all though, Franklin feels satisfied with everything she's accomplished in her career and is ready to step out of the spotlight.

"I feel very, very enriched and satisfied with respect to where my career came from and where it is now," Franklin said. "I'll be pretty much satisfied, but I'm not going to go anywhere and just sit down and do nothing. That wouldn't be good either."

According to Billboard, Franklin's final album will be recorded this September and will see Stevie Wonder in the producer's chair. The album will be recorded in Detroit and will act as an "ode" to the city.