The present disclosure concerns a magnetic element to be written using a thermally-assisted switching write operation comprising a magnetic tunnel junction formed from a tunnel barrier being disposed between first and second magnetic layers, said second magnetic layer having a second magnetization which direction can be adjusted during a write operation when the magnetic tunnel junction is heated at a high threshold temperature; an upper current line connected at the upper end of the magnetic tunnel junction; and a strap portion extending laterally and connected to the bottom end of the magnetic tunnel junction; the magnetic device further comprising a bottom thermal insulating layer extending substantially parallel to the strap portion and arranged such that the strap portion is between the magnetic tunnel junction and the bottom thermal insulating layer. The magnetic element allows for reducing heat losses during the write operation and has reduced power consumption.