I'm sure it's obvious to everyone, but...
Only shoot RAW if you plan on doing post processing. Shoot JPG if you don't.
I'm sorry but I completely disagree with this. How about this: Only shoot JPG if you don't have enough memory card space, or are taking photos in continuous shooting mode and are filling the buffer too quickly with Raw.
Raw means to never have to worry about white balance again. Raw means that you're futureproofing yourself as much as possible. Raw means that if you get a really special photo, you have the most ability to perfect it later. Raw means that if the photo is underexposed or overexposed, you have more latitude to correct it.
You may not postprocess now, but you might later. Why handicap yourself unnecessarily? To claim that you should be able to pick perfect white balance every time yourself is not unlike claiming that you shouldn't use autofocus as you should be able to manually focus better - heck, AF systems usually make more mistakes than AWB does (outside of tungsten areas.)
I used a couple examples in another thread that I won't repeat (but I think my night shot of the Contemporary from the Poly beach is one of the best examples) - here's another before and after.
How would you make a custom white balance, without swimming out there and climbing it, you wouldn't be able to hold up a gray card in the light that's shining on it. Ditto many other circumstances.
Back on the original question - it was more or less answered, but the Raw saves the "recommended" settings (or the custom settings you've picked), while the jpg has those settings applied already. With RAW, you have the option of accepting the camera's suggest white balance, pick a preset, or do a custom one. Or, Lightroom (and probably others) can do their own "auto" white balance, which works very well in most cases.
If you do shoot jpg, most of the time AWB is just fine, but you'll probably want Tungsten for indoor flashless photos (make sure to change it back to Auto if you use the flash) and also for night photos like of fireworks, buildings, etc.