The aim of my research work is to realize a future universal memory with low power consumption and high-performance. The most interesting Physics phenomena such as spin transfer torque and resonance will be utilized to realize this. The change of magnetization states by spin transfer torque brought momentum to research on magnetic random access memory (MRAM), however, there is still a need for improvement of memory performances. The conventional multi-bit per cell (MBPC) scheme has the potential of increasing the storage capacity of MRAM but the overwriting issue remains the major drawback of this scheme. To overcome this drawback, the frequency of a spin torque oscillator will be matched with that of a magnetic tunnel junction memory element. The resonance phenomenon based on frequency selection and spin transfer torque effect can be used for writing in the MBPC scheme without undesirable overwriting. A spin torque oscillator with an optimal frequency will be integrated with a conventional magnetic tunnel junction to realize a real time device known as spin transfer oscillator magnetic tunnel junction (STOMTJ) which will form the basis for the low power magnetic memory.