Prove that if $z+\frac1z$ is real, then either $|z|=1$ or $z$ is real.
I am not sure whether my proof is sufficient. So far, I have shown that
$$z+\frac1z = \frac{z^2+1}{z}=\frac{|z|+1}{z}$$
However, I don't think the proof enough, and also I seemed to have proven that they both have to be real and not either... Please advise.
Note: I realised that my proof is wrong, as it was kindly mentioned that $z^2$ doesn't equal $|z|$. I remembered wrongly, it should be $zz*=|z|$ with $z*$ being a conjugate of $z$.