Thyroid nodules are extremely common, affecting from 4% to 7% of the population. Fine-needle aspiration biopsy is the most accurate and cost-effective technique for nodule diagnosis. It is simple, safe, and should be the first test used in patient work-up. Routine thyroxine (T4) suppressive therapy is no longer recommended for cytologically benign nodules. T4 suppression can cause or aggravate osteoporosis, especially in postmenopausal women. New data on T4 suppressive therapy, cost analysis, and nodule guidelines are reviewed.