Sylvester Stallone Says Family Is 'All That Matters' as He Teases Their 'Shocking' Reality Show

Sylvester Stallone is a family man.

While attending the Tulsa King premiere at Regal Union Square in New York City on Wednesday evening, the actor, 76, opened up to reporters including PEOPLE about his brood and how they are "all that matters."

"In life, I just want to set my dreams and aspirations, and now it's their turn," Stallone said.

"I'm not going to be around forever, so I'm embracing being cool, which means I have to take a lot of you know what," he added, laughing. "But, it's worth it."

Stallone is married to wife Jennifer Flavin, and together they share three daughters — Sophia, 26, Sistine, 24, and Scarlet, 20. He is also a dad to son Seargeoh from his previous marriage to Sasha Czack. His oldest son Sage, whom he shares with Czack, died in 2012.

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Stallone also teased his family's upcoming reality series, stating that it "is going to shock people, for sure."

"Because a lot of times people say, 'Oh reality TV?' and, you know, 'Does he need a job or something?' " the actor said. "I'm feeling I have this resurgence go on. My time for this will show me, what it's like, not when you're Oprah or retired. It's the ultimate home movie, I'll say."

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When Flavin filed for divorce from Stallone in August, the actor said in a statement they were "amicably and privately addressing these personal issues," before PEOPLE confirmed in September that Flavin and Stallone reconciled.

In a new cover story for The Hollywood Reporter, the Rocky star discussed making the reality series with his family and whether his recent reconciliation with Flavin, 54, will be included in the show.

"Of course it's part of the show," said Stallone. "It's the John Lennon thing: 'Life is what happens when you're making other plans.' Hopefully you're involved with people who understand the foibles of life and the fragility of it and how rare a real good relationship is."

"Sometimes I put the work ahead of [my family], and that is a tragic mistake which won't happen again," he added. The actor also explained to THR that he felt "as though I wasted a lot of time" in his career and "now I realize there are only so many bullets left in the gun."

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Currently, Tulsa King is Stallone's latest project, and the star told reporters at the premiere he is getting to portray "the kind of a fantasy role I've always wanted to play."

"A gangster. Not a cowboy, not an Indian — a gangster," he continued. "Don't ask me why, but there's a romanticism about these kinda characters, and [I love] the idea of taking him outta New York."

"So he's not like a Tony Soprano, he's completely in an alien world," Stallone added. "He might as well walk around on the moon."

"And to see a guy build his life, like making friends with tough guys, cowboys, Indians, nerds, computer geniuses, just all kinds of [people], he builds a new family that way," he noted. So the audience grows with him, and it has a lot of heart, too."

Tulsa King will begin streaming Nov. 13 on Paramount+.