临渊羡鱼不如退而结网 Have I return this chinese sentence (Proverb) correctly, if not could you kindly correct it.?

Yes, it’s correctly worded, and it’s a Chinese ancient proverb. Its basic meaning is we must have tools (nets) well prepared, before we can cast the net and have a harvest.

This sentence could be used in distinctive-old-style writing, but in normal (include formal) writing or spoken language, we don’t use it. There are many easier and clearer ways to express the same meaning.

Looks right to me