My mom taught me to always, always, always unplug the iron.
She was one smart woman, too. When my parents built their house in 1968, my mother insisted that the electrical outlets in the kitchen and family room (which she planned to use for sewing and crafts) be installed 40 inches off the floor. Those outlets were high enough that you didn't have to bend over to unplug anything!
Plus, with the outlet so high off the floor, it made the electrical cord of the iron seem longer and easier to maneuver.