One of the most useful Word shortcuts is Shift + F5, which invokes the GoBack command and returns the cursor to the previous editing point. It is useful both while editing (for instance, having copied something, to return to where you were typing previously in order to paste); and when you open a previously saved document, in order to return to where you edited it last.

When editing, Shift + F5 goes back to up to three editing points, and when you press it a fourth time, it returns to where you started. When you open a previously saved document, it only remembers the last editing point.

Returning to the last editing point when reopening a saved document was removed in Word 2007.  This option only works while working in a document during the current Word session.  Word 2010 gives it back.