TL;DR: @LoadBalanced is a marker annotation & @RibbonClient is used for configuration purposes.
@LoadBalanced
Used as a marker annotation indicating that the annotated RestTemplate should use a RibbonLoadBalancerClient for interacting with your service(s).
In turn, this allows you to use "logical identifiers" for the URLs you pass to the RestTemplate. These logical identifiers are typically the name of a service. For example:
restTemplate.getForObject("http://some-service-name/user/{id}", String.class, 1);
where some-service-name is the logical identifier.
@RibbonClient
Used for configuring your Ribbon client(s).
Is @RibbonClient required?
No! If you're using Service Discovery and you're ok with all of the default Ribbon settings, you don't even need to use the @RibbonClient annotation. 
When should I use @RibbonClient?
There are at least two cases where you need to use @RibbonClient
- You need to customize your Ribbon settings for a particular Ribbon client
- You're not using any service discovery
Customizing your Ribbon settings:
Define a @RibbonClient
@RibbonClient(name = "some-service", configuration = SomeServiceConfig.class)
- name- set it to the same name of the service you're calling with Ribbon but need additional customizations for how Ribbon interacts with that service.
- configuration- set it to an- @Configurationclass with all of your customizations defined as- @Beans. Make sure this class is not picked up by- @ComponentScanotherwise it will override the defaults for ALL Ribbon clients.
See the section "Customizing the RibbonClient` in the Spring Cloud Netflix documentation (link)
Using Ribbon without Service Discovery
If you're not using Service Discovery, the name field of the @RibbonClient annotation will be used to prefix your configuration in the application.properties as well as "logical identifier" in the URL you pass to RestTemplate.
Define a @RibbonClient
@RibbonClient(name = "myservice")
then in your application.properties
myservice.ribbon.eureka.enabled=false
myservice.ribbon.listOfServers=http://localhost:5000, http://localhost:5001