An implantable magnetic retention system includes an implantable portion configured to be implanted subdermally or subcutaneously within a patient. The implantable portion includes a magnetic or ferromagnetic inner portion and a biocompatible outer portion fully enclosing the inner portion. A non-implantable portion is configured to be attached to a wearable ornament. The non-implantable portion includes a magnetic or ferromagnetic portion. At least one of either the implantable portion or the non-implantable portion includes the magnetic portion. Therefore, the implantable portion and the non-implantable portion are magnetically attracted to one another.