Переклад - Французька-Англійська - Mieux vaut vivre ses rêves que de rêver sa vie

Hi Vesna J. And whoever is going to evaluate the translation from this short text.

Here I'd say : "Living your dreams is better than dreaming your life."

This is my opinion, but as I'm not an English native speaker I may be wrong

I think the meaning is exactly the same here.

I think in this case one can find more precise proverb on basis of this idea - "Dreams have sense if you build your life on them"

Yes, you may be right, but here again it is about translating a text, not interpreting it, durklis.

I think it will be far better without "It is" at the beginning.

I like this translation.

Honestly I would have said:
One shall/must live his dreams, not dream his life.

Edit: I also concur with Itach-uh Ionut Andrei ()
It sounds better without "It is".