I had the same problem as Hank Kennedy with chuck keys growing legs and hiding on me. I got a bar magnet car dealers use to hold their dealer plates to cars for short trips. I mounted it to the belt guard and it holds the key, a couple of reams, a small square and the odd bit I need. It worked so well, I mounted several around my shop for things like driver bits, and holders, a set of dental picks, and a hundred other small tools I use all the time but could never find.
Winter Garden, FL