daydream (one's) life away

Translations
прожигать жизнь в мечтах
He doesn't want to daydream his life away without taking action.
Он не хочет прожигать жизнь в мечтах, не предпринимая действий.
Definitions
To spend a significant amount of time lost in thoughts or fantasies about an idealized life, rather than engaging with reality or taking action towards one's goals.