Veteran defender Wakelin, 34, was widely reported to have played his last game when the Pies bowed out of the 2008 finals race against St Kilda last weekend, but waited a few days before confirming the news.
"I'll miss being around the change rooms and the week-to-week routine more than anything,” Wakelin told collingwoodfc.com.au.
"But I think that hour before the game, the excitement before the game, I will probably miss that the most. The build-up, the mental preparation, the excitement and the train trip into the game. I used to really enjoy that."
Wakelin played 94 games with St Kilda before crossing to Collingwood in exchange for the 49th pick in the 2000 NAB AFL Draft and went on to play 158 games – including the 2002 and 2003 Grand Finals – in the black and white.
He twice finished in the top five in Copeland Trophy voting, including a fourth-placing in the Grand Final year of 2002, but he admitted it hadn't been a easy road to travel at times.
"Perseverance is probably the single biggest factor in my career," he said.
"I have had a lot of adversity, more so than your average 250-game player. I have had a lot of hiccups along the way [and] my career has stalled on many occasions.
"The thing I will look back on is my ability to persevere and to really respond to adversity in some pretty tough times.
"I have always planned for my future. I have done a hell of a lot of study and I have been planning for my retirement for the last two years. I will sit down with my wife and make a decision on which way I want to go."
Lonie, 25, played 125 games in his eight-year career with Collingwood, but has been cruelled by injuries over the past two seasons.
"I’ve been thinking about it for a little while. I dislocated my shoulder in the middle of the year, and obviously had a bit of time to think about it from there, and just decided that I’ve had enough of playing," he said.
"I thought it was the right time to move on and do something else with my life.
"I’ve played here for eight years, and had a great time while I’ve been here, but I just thought, at 25 you’re sort of at the crossroads. If you’re not playing regular senior footy for different reasons, whether it’s form or injuries, the decision’s got to be made."
Lonie was picked 34th overall in the 2000 draft after playing his junior footy with the Dandenong Stingrays. Like Wakelin he played in the 2002 and 2003 Grand Finals and cracked the 100-game milestone in just his sixth season in the system.
