When is liquid cooling necessary?

I am deciding from two builds, they are:
1) Case 1 x AZZA Atlas Gaming Case - Black
Case Lighting X
iBUYPOWER Labs - Noise Reduction X
iBUYPOWER Labs - Internal Expansion X
Processor 1 x Intel® Core™ i5-4670K Processor (4x 3.40GHz/6MB L3 Cache) - Intel Core™ i5-4670K
iBUYPOWER PowerDrive X
Processor Cooling 1 x Liquid CPU Cooling System [Intel] - Standard 120mm Fan
Memory 1 x 8 GB [4 GB X2] DDR3-1600 Memory Module - Corsair or Major Brand
Video Card 1 x NVIDIA GeForce GTX 770 - 2GB - Single Card
Free Stuff 1 x [FREE Game Coupon] - Assassin Creed IV Black Flag - w/ purchase of GTX 660 Video Card or above
Free Stuff 1 x [FREE Game Download] - GRID2 - FREE with Intel 4th Gen Processor
Free Stuff 1 x [FREE] - McAfee Antivirus PLUS 2014 - FREE with any System ($49 Value)
Free Stuff 1 x [FREE] - GG Cruiser PC200-I Headset w/ large 57mm drivers for clear audio - FREE with any System ($29 Value)
Motherboard 1 x ASUS Z87-K -- 1x PCIE 3.0 x16, 6x SATA-III 6Gb/s, 2x USB 3.0
Intel Smart Response Technology X
Power Supply 1 x 600 Watt - OCZ ModXStream Pro 600W - 80 PLUS, Modular
Primary Hard Drive 1 x 1 TB HARD DRIVE -- 32M Cache, 7200 RPM, 6.0Gb/s - Single Drive
Data Hard Drive X
Optical Drive 1 x 24x Dual Format/Double Layer DVD±R/±RW + CD-R/RW Drive - Black
2nd Optical Drive X
Flash Media Reader / Writer X
Meter Display X
Sound Card 1 x 3D Premium Surround Sound Onboard
Network Card 1 x Intel Pro 10/100/1000 Network Card
USB Expansion Card X
Operating System 1 x Windows 8.1 + Office 365 Trial [Free 30-Day !!!] 64-bit
Keyboard 1 x iBUYPOWER Standard Gaming Keyboard
Monitor X
2nd Monitor X
Speaker System X
Video Camera X
Advanced Build Options 1 x iBUYPOWER Specialized Advanced Packaging System - Protect your investment during transportation!
Advanced Build Options 1 x Professional wiring for all cables inside the system tower - Achieve exceptional airflow in your chassis
Advanced Build Options 1 x Professional wiring for all cables inside the system tower - Basic Pro Wiring


and 2)Case 1 x ARC 647 Gaming Case - Black
Case Lighting X
iBUYPOWER Labs - Noise Reduction X
iBUYPOWER Labs - Internal Expansion X
Processor 1 x Intel® Core™ i5-4670K Processor (4x 3.40GHz/6MB L3 Cache) - Intel Core™ i5-4670K
iBUYPOWER PowerDrive X
Processor Cooling 1 x Liquid CPU Cooling System [Intel] - Standard 120mm Fan
Memory 1 x 8 GB [4 GB X2] DDR3-1600 Memory Module - Corsair or Major Brand
Video Card 1 x NVIDIA GeForce GTX 770 - 2GB - Single Card
Free Stuff 1 x [FREE] - GG Cruiser PC200-I Headset w/ large 57mm drivers for clear audio - FREE with any System ($29 Value)
Free Stuff 1 x [FREE] - McAfee Antivirus PLUS 2014 - FREE with any System ($49 Value)
Free Stuff 1 x [FREE Game Download] - GRID2 - FREE with Intel 4th Gen Processor
Free Stuff 1 x [FREE Game Coupon] - Assassin Creed IV Black Flag - w/ purchase of GTX 660 Video Card or above
Motherboard 1 x ASUS Z87-K -- 1x PCIE 3.0 x16, 6x SATA-III 6Gb/s, 2x USB 3.0
Intel Smart Response Technology X
Power Supply 1 x 600 Watt - Standard - Free Upgrade to 600W OCZ ModXStream Pro - 80 PLUS
Primary Hard Drive 1 x 1 TB HARD DRIVE -- 32M Cache, 7200 RPM, 6.0Gb/s - Single Drive
Data Hard Drive X
Optical Drive 1 x 24x Dual Format/Double Layer DVD±R/±RW + CD-R/RW Drive - Black
2nd Optical Drive X
Flash Media Reader / Writer X
Meter Display X
Sound Card 1 x 3D Premium Surround Sound Onboard
Network Card 1 x Intel Pro 10/100/1000 Network Card
USB Expansion Card X
Operating System 1 x Windows 8.1 + Office 365 Trial [Free 30-Day !!!] 64-bit
Monitor X
2nd Monitor X
Speaker System X
Video Camera X
Advanced Build Options 1 x iBUYPOWER Specialized Advanced Packaging System - Protect your investment during transportation!
Advanced Build Options 1 x Professional wiring for all cables inside the system tower - Achieve exceptional airflow in your chassis
Advanced Build Options 1 x Professional wiring for all cables inside the system tower - Basic Pro Wiring

and honestly, I don't see myself overcloacking the processor past 4.0GHz, do I need the liquid cooling for either? Sorry it's just that I'm trying to save just a little bit of money. Oh, and while I'm at it, did I choose the right stuff?(MoBo, Processor, Graphics Card, etc)