### Instruction:
In the complex plane, let $S$ be the set of complex numbers $z$ such that
\[\left| z + \frac{1}{z} \right| \le 2.\]Find the area of $S.$

### Response:

Let $z = x + yi,$ where $x$ and $y$ are real numbers.  The given inequality is equivalent to
\[|z^2 + 1| \le 2|z|.\]Then
\[|(x^2 - y^2 + 1) + 2xyi| \le 2|x + yi|.\]This is equivalent to $|(x^2 - y^2 + 1) + 2xyi|^2 \le 4|x + yi|^2,$ so
\[(x^2 - y^2 + 1)^2 + 4x^2 y^2 \le 4x^2 + 4y^2.\]This simplifies to
\[x^4 + 2x^2 y^2 + y^4 - 2x^2 - 6y^2 + 1 \le 0.\]We can write this as
\[(x^2 + y^2)^2 - 2(x^2 + y^2) + 1 - 4y^2 \le 0,\]or $(x^2 + y^2 - 1)^2 - 4y^2 \le 0.$  By difference of squares,
\[(x^2 + y^2 - 1 + 2y)(x^2 + y^2 - 1 - 2y) \le 0.\]Completing the square for each factor, we get
\[(x^2 + (y + 1)^2 - 2)(x^2 + (y - 1)^2 - 2) \le 0.\]The factor $x^2 + (y + 1)^2 - 2$ is positive, zero, or negative depending on whether $z$ lies inside outside, on, or inside the circle
\[|z + i| = \sqrt{2}.\]Similarly, the factor $x^2 + (y - 1)^2 - 2$ is positive, zero, or negative depending on whether $z$ lies inside outside, on, or inside the circle
\[|z - i| = \sqrt{2}.\]This tells us that $z$ lies in $S$ if and only if $z$ lies in exactly one of these two circles.

[asy]
unitsize(1 cm);

fill(arc((0,1),sqrt(2),-45,225)--arc((0,-1),sqrt(2),135,45)--cycle,gray(0.7));
fill(arc((0,-1),sqrt(2),45,-225)--arc((0,1),sqrt(2),225,315)--cycle,gray(0.7));
draw(Circle((0,1),sqrt(2)),red);
draw(Circle((0,-1),sqrt(2)),red);
draw((-3,0)--(3,0));
draw((0,-3)--(0,3));

label("Re", (3,0), E);
label("Im", (0,3), N);

dot("$i$", (0,1), E);
dot("$-i$", (0,-1), E);
[/asy]

We can divide $S$ into six quarter-circles with radius $\sqrt{2},$ and two regions that are squares with side length $\sqrt{2}$ missing a quarter-circle.

[asy]
unitsize(1 cm);

fill(arc((0,1),sqrt(2),-45,225)--arc((0,-1),sqrt(2),135,45)--cycle,gray(0.7));
fill(arc((0,-1),sqrt(2),45,-225)--arc((0,1),sqrt(2),225,315)--cycle,gray(0.7));
draw(Circle((0,1),sqrt(2)),red);
draw(Circle((0,-1),sqrt(2)),red);
draw((-3,0)--(3,0));
draw((0,-3)--(0,3));
draw((-1,0)--(1,2),dashed);
draw((1,0)--(-1,2),dashed);
draw((-1,0)--(1,-2),dashed);
draw((1,0)--(-1,-2),dashed);

label("Re", (3,0), E);
label("Im", (0,3), N);
label("$\sqrt{2}$", (1/2,1/2), NE);

dot((0,1));
dot((0,-1));
[/asy]

Hence, the area of $S$ is $4 \cdot \frac{1}{4} \cdot (\sqrt{2})^2 \cdot \pi + 2 \cdot (\sqrt{2})^2 = 2 \pi + 4.$