Controllable magnetic components, such as variable inductors and transformers, offer new opportunities for power electronics. These devices allow for dynamic control of inductances (magnetising and leakage) and transformation ratios, enabling more efficient operation and greater adaptability in power conversion systems. Recent advances focus on integrating these components into topologies like dual active bridge converters and resonant converters, enhancing power density and efficiency by reducing current stress and improving voltage regulation. However, challenges remain in achieving consistent performance across operating conditions and simplifying control mechanisms. This field continues to evolve, promising higher performance for future power systems. In this tutorial, attendees will follow the journey from the creation of the first magnetic amplifiers to the modern variable magnetics, their applications and their future.