A method and system for providing a magnetic junction usable in a magnetic device are described. The magnetic junction includes a pinned layer, a nonmagnetic spacer layer, and a free layer. The nonmagnetic spacer layer is between the pinned layer and the free layer. The magnetic junction is configured such that the free layer is switchable between a plurality of stable magnetic states when a write current is passed through the magnetic junction. At least one of the pinned layer and the free layer includes a magnetic substructure. The magnetic substructure includes at least two magnetic layers interleaved with at least one insertion layer. Each of the at least one insertion layer includes at least one of Bi, W, I, Zn, Nb, Ag, Cd, Hf, Os, Mo, Ca, Hg, Sc, Y, Sr, Mg, Ti, Ba, K, Na, Rb, Pb, and Zr. The at least two magnetic layers are magnetically coupled.