Here, two translations have been suggested for 留下: “to make” and “to hold on to.” According to the dictionary, the term means “to keep”, “retain”, “preserve.” (《汉英双解新华字典》.) “To hold on to” is thus more in accord with the dictionary definition. This does not end the argument, though, because dictionary definitions are only guidelines and not laws. Translating 留下 as “to make” is a stretch, it’s not an unreasonable one in the context of this sentence.

Nevertheless, assuming that a Chinese person authored the original text, I think “hold on to” is more likely correct. “Life’s short, let’s party” is a familiar strain in Western culture, so the idea of making new memories sounds like a good translation to us. But Chinese culture is more directed toward the past, so I suspect that “treasure your memories, since they’re the only things you’ll have left” is probably what the author meant. (I have to admit, looking at the text from the perspective of 64 years on the planet may have influenced my translation.)

Albert,
Will you think about adding a column for some chinese-learning ideas from your informants? Ideas such as ‘Personnally, I find the strange 儿化音—泪儿。’, or ‘When laowai go to the postoffice/bank/cinema in China, what spoken chinese do they need to know?’,etc.

How about “If all things will pass, you’d best hang on to your memories.”