Safety first
In all his years of fishing, Angler Bob has never fallen through the ice. But he keeps a safety box ready "just in case." As Bob walks out on the frozen lake, he slams his dad's old "spud" bar on the ice ahead of where he steps. If it bounces off the ice, it's safe to continue walking. Bob carries 25 feet of rope and ice picks. For traveling across ice, he insists on metal cleats that fit over his boots. Unfortunately, Bob also packs a flask of whiskey to "flavor" his coffee.
Getting started
Years ago, Bob swore ice fishing would cost next to nothing. Bob purchased a six-inch ice auger for smaller pan fish (later he bought a 10-inch blade for walleye). He added plastic scoops for getting ice chips out of the hole and a five-gallon bucket to carry gear and double as a stool.
Bob prefers his ultra-light ice fishing rod that better detects a bite. Bob uses four-pound line for panfish and six-pound line for bass/walleye. Bob has tackle boxes full of lures and jigs, but started with a small assortment, including fluorescent colors for clouded waters and dark colors for clear water. Bob uses waxworms, maggots, and roach minnows for bait.
All geared up
Someone suggested that Bob buy fishing sonar and a depth finder to locate fish underwater; he did. Bob heard about ice fishing shelters: he still has his two-man flip-over style that he and his son used, but he's added a three- to five-person shelter/sleeper for when his cronies join him on the ice.
Bob has a corner of his garage heaped with gear to maximize his ice fishing experience: lantern, portable heater, cook stove, portable chairs, and more. When Angler Bob collected so much ice fishing equipment that he couldn't haul it to the lake, he bought an ice fishing sled made of rugged polyethylene - big enough to pile on his future "equipment for success" purchases.