Abstract: A fishing rod has a rod portion and a handle portion separated by a reel seat. At least one portion defines a magnet receiving area, which may be external or within a hollow portion that is surrounded by a wall and that is located in the rod portion, the reel seat portion, or in the handle portion for receiving a spacer piece. The spacer piece may be cylindrical shaped and made of foam. The spacer piece defines a receiving cavity for receiving a magnet. In one embodiment, the receiving cavity is asymmetrically oriented in the spacer piece such that the receiving cavity has a close side that is a first distance from the wall and has a far side that is a second distance from the wall for locating an area of best magnetic attraction at a predetermined location on an exterior of the rod portion or handle portion.