It is both true and false. But it's good to say things like this, because some will take it to heart, and work to make their life better. But whether you take it heart or not, is beyond your control.

"Life is what you make it? True or false?"
It depends on several factors. Your parents economic and social status is likely the biggest factor. Being White would help.

give or take its partly true

I would say true 70%. No matter whatever is going on around you, you can choose to look for a positive or at least reassurance perspective. From my own experiences in life I can agree that a good part of your outlook in life is formed by the conditionings of those you grew up around.

True.

True if you're part of the Kennedy family. For the majority, life is an endless parade of comprises and survival. It's not a cliche I like. Sorry.

I never complained for not being born in a rich house, or born to married parents or for being raised by my grandmother.... to me all being a plus.... even my only Living Hero.... the singer/songwriter named Rodriguez, unknown to many americans while being a superstar in distant countries said the phrase I live by.... "Nothing Beats Reality". I LIVE, I AM WHAT MY LIFE IS.