It's okay to yearn for the good old days, but things are pretty good now too.
It's fine to look back on the good memories from the past, but this is a nice generation to live in as well.
この場合、次のような言い方ができます。
ーIt's okay to yearn for the good old days, but things are pretty good now too.
「古き良き時代を懐かしむのも良いけど、今も結構いいよ」
to yearn for で「懐かしむ」
good old days で「古き良き時代」
ーIt's fine to look back on the good memories from the past, but this is a nice generation to live in as well.
「昔の良い思い出を懐かしむのも良いけど、今も良い時代だよ」
to look back on で「追憶する・思い出す」
good memories from the past で「昔の良い思い出」
ご参考まで！
"It's fine to be nostalgic for the good old days but the present is good too."
"It's fine to be nostalgic for the good old days but the present is good too."
"it's fine ~" 「〜のもいい」
"to be nostalgic for~" 「〜を懐かしむ」
"the good old days" 「古き良き時代」
"but" 「けど」
"the present" 「今の時代」
"is good too" 「もいいよ」
カナダ 
オーストラリア 
