Lance Armstrong is taking his final break from cycling.

Armstrong told The Associated Press on Tuesday that he is calling this one "Retirement 2.0." He wants to spend time with his five children and dedicate his efforts to his Livestrong Organization.

"Never say never," Armstrong joked with the AP when asked about a possible comeback. "Just kidding."

Competing in the Tour Down Under race in Adelaide, South Australia, about a month ago, Armstrong finished in 65th place. Unable to produce an eighth Tour de France win last summer, his comeback was dwindling alongside his allegations of drug use.

After being diagnosed in 1996 with testicular cancer, Armstrong made his first comeback beginning in 1998. A year later, he began his stretch of seven straight Tour de France win.

"I can't say I have any regrets. It's been an excellent ride. I really thought I was going to win another tour," said Armstrong of his 2009 comeback. "Then I lined up like everybody else and wound up third [in the '09 Tour de France]."

After his former teammate, Floyd Landis, made accusations last year that Armstrong was using drugs and teaching other cyclists how to beat the testing, a federal investigation was opened. Landis ended his career in January 2010 when unable to find a new team.

For Armstrong, retirement means getting off the bike but not out of the limelight. He has plans to travel with his oldest son, Luke, to the upcoming 98th Tour de France in July. Having accomplished a $3 billion constitutional amendment for cancer research over a 10-year span, this summer he has goals to do the same in California.