I wear a cheap pair of uninsulated hip waders. If it's cold I'm wearing long john pants under. If it's really cold, I have fleece lined pants also. I've fished all day when it's in the 20's in the morning with ice freezing in the rod eyes where the line won't come out. Maybe only hitting low 30's for highs and windy. With work I chased Crappie when I can.

What Furflyin said is the truth, dress in layers and stay dry. Cold and dry is manageable, wet can be life threating.