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Updated 4mo ago
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Meaning it's better to be satisfied with what you have, rather than risking it for a chance at a larger reward.

This proverb turns out to be very old indeed. It comes from an ancient book called "The Story of Ahikar" also known as the "Proverbs of Ahiqar." 
My son, a sheep's foot in thine own hand is better than the whole shoulder in the hand of a stranger; better is a lambkin near thee than an ox far away; better is a sparrow held tight in the hand than a thousand birds flying about in the air; better is a hempen robe, that thou hast, than a robe of purple, that thou hast not.
The Story of Ahikar (page 110)
The book tells the story of an advisor to the ancient Assyrian and Egyptian rulers. It was probably written about 600 BCE, with the earliest surviving fragments dating to about 500 CE. 

Similar proverbs from around the world...
French:
Un tiens vaut mieux que deux tu l'auras
A here-you-go is worth more than two you-can-have-it-laters
Japanese
明日の百より今日の五十
Today's 50 over tomorrow's 100
Italian
Meglio un uovo oggi che una gallina domani
Better an egg today than a hen tomorrow

And one more for fun...
"A monkey on the back is worth two in the bush."
-ChatGPT

Do you think this proverb is good advice? When is it better to go with a sure thing now or take a chance and search for something better?
...
Sources
The Story of Ahikar
French proverb (Wiktionary)
Japanese proverb (Wiktionary)
Italian proverb (Wiktionary

Image CC BY - Brighid for Maktaba.org
Remixed from:
Two Birds Perched on a Flowering Rose Bush by Ren Yi (Ren Bonian), Chinese, late 19th century  - Metropolitan Museum of Art
Bird on Hand by Mahbub Hasan, Bangladesh (bird: common myna / Acridotheres tristis)  - Wikimedia