This paper presents a novel approach to designing magnetics for high frequencies by combining the area product (AP) method with advanced loss modelling techniques. Magnetic components cannot be arbitrarily scaled down at high frequencies due to increased losses as described by the modified AP method for transformer designs to leverage constant loss density under sinusoidal excitation. This study enhances the AP method by incorporating the iGSE and the Dowell model to determine the optimal sizing of both transformers and inductors at high switching frequencies. The approach is validated with 2 transformer and 4 inductor designs. The experimental results demonstrate the proposed scaling of the transformer designs for a dual active bridge circuit and the inductor designs for a buck converter circuit.