Answer
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Similarities
Reading glasses and magnifiers are both converging lenses with short focal length f.
Reading glasses and magnifiers allow the eye to focus on something closer to the eye than its near point.
Differences
A magnifier is used so that it is relatively far from the eye. Reading glasses are used at a small, fixed distance from the eye.
A magnifier is placed so that the object is precisely at the focal point (or maybe a tiny bit closer). This creates an image at infinity that can be viewed with a relaxed eye. However, reading glasses are used to create their images close to the eye’s near point (which increases with age). Reading glasses focus the rays from a nearby object to come together before they encounter the eye.