Abstract: A magnetic retainer system, device, and process for tools, utensils, fasteners, and eyeglasses. The device includes a lanyard or strap to be worn around a neck of a user, with the lanyard having a pair of opposed ends. The opposed ends are held together by a break-away safety release mechanism which will release the ends from each other upon application of a certain force. A magnetic retainer is suspended from and affixed to the lanyard. A tool, utensil, fastener or eyeglasses having a ferromagnetic element affixed thereto will be attached by the magnetic retainer. The retainer device will hold by magnetic force a tool, utensil, fastener or eyeglasses at approximately chest level for easy access, retrieval and use.