A portable power tool comprising: a housing including a nose portion and a gripping portion, the nose portion defining an opening; a motor enclosed within the housing, the motor including an output shaft, the output shaft extending through the opening in the nose portion of the housing; an accessory tool holder secured to an end portion of the output shaft located exterior to the nose portion of the housing; an attachment interface on the nose portion of the housing around the opening; and an attachment configured to be attached and removed from the nose portion of the housing as desired by an operator of the power tool, the attachment including a housing interface that is configured to interact with the attachment interface to position the attachment at a predetermined position on the nose portion of the housing, wherein the attachment interface and the housing interface are configured to be magnetically attracted to each other with sufficient force to retain the attachment on the nose portion of the housing during normal operating conditions while allowing the attachment to be removed from the nose portion of the housing by hand by the operator, wherein the accessory tool holder is configured to retain a first type of accessory tool, and further comprising: a tool holder adaptor configured to be retained by the accessory tool holder in a same manner as the first type of accessory tool, the tool holder adaptor being configured to retain a second type of accessory tool when the tool holder adaptor is retained by the accessory tool holder, and wherein the attachment comprises a first attachment, the first attachment including a guard/guide portion associated with the first type of accessory tool, and further comprising: a second attachment having the attachment interface and including a guard/guide portion associated with the second type of accessory tool. a housing including a nose portion and a gripping portion, the nose portion defining an opening; a motor enclosed within the housing, the motor including an output shaft, the output shaft extending through the opening in the nose portion of the housing; an accessory tool holder secured to an end portion of the output shaft located exterior to the nose portion of the housing; an attachment interface on the nose portion of the housing around the opening; and an attachment configured to be attached and removed from the nose portion of the housing as desired by an operator of the power tool, the attachment including a housing interface that is configured to interact with the attachment interface to position the attachment at a predetermined position on the nose portion of the housing, wherein the attachment interface and the housing interface are configured to be magnetically attracted to each other with sufficient force to retain the attachment on the nose portion of the housing during normal operating conditions while allowing the attachment to be removed from the nose portion of the housing by hand by the operator, wherein the accessory tool holder is configured to retain a first type of accessory tool, and further comprising: a tool holder adaptor configured to be retained by the accessory tool holder in a same manner as the first type of accessory tool, the tool holder adaptor being configured to retain a second type of accessory tool when the tool holder adaptor is retained by the accessory tool holder, and wherein the attachment comprises a first attachment, the first attachment including a guard/guide portion associated with the first type of accessory tool, and further comprising: a second attachment having the attachment interface and including a guard/guide portion associated with the second type of accessory tool. a tool holder adaptor configured to be retained by the accessory tool holder in a same manner as the first type of accessory tool, the tool holder adaptor being configured to retain a second type of accessory tool when the tool holder adaptor is retained by the accessory tool holder, and wherein the attachment comprises a first attachment, the first attachment including a guard/guide portion associated with the first type of accessory tool, and further comprising: a second attachment having the attachment interface and including a guard/guide portion associated with the second type of accessory tool.