This is an old trick, likely reported here in the past, but I will post it again for the new builders.
On the RV14 fuselage there is a roll bar fitting that is bolted in place. The bolt heads are easily accessible but require a nut and washer in a location that is difficult to reach.
Touching the bolt head with a magnet magnetizes the bolt, which will then hold the washer and nut against gravity allowing you to easily apply a wrench.
As a side note the magnet in the picture is a "cow magnet". Cows are not always the brightest of animals and when they forage they consume a large amount of material in a quick manner. If they happen to swallow a nail, or piece of wire, it can get stuck in one of their stomachs and cause problems. We used say that a cow that was doing poorly might have "hardware". A magnet, like the one above, was shoved down their throat in the hope that the offending bit of metal would attach itself to the magnetic. The grove in the magenta is supposed to be where the hardware would go. This particular magnet was never used for its' intended purpose but has been useful in my shop for many years.
For those more interested in this non aviation
Tom Martin RV1 pilot 4.6hours!
CPL & IFR rated
EVO F1 Rocket 1000 hours,
2010 SARL Rocket 100 race, average
speed of 238.6 knots/274.6mph
RV4, RV7, RV10, two HRIIs and five F1 Rockets
RV14 Tail dragger flying #153
St.Thomas, Ontario Canada, CYQS