thumpism 

You're supposed to lick it off your feet, which also helps keep you bendy.

SnowJob

For you hands go with mittens or lobster gloves with room for a Merino liner glove underneath. For your feet get a good insulated winter boots that's large enough so you can layer socks. On the coldest day I have a thin base sock and a thicker sock. Merino wool. Generally I go with Smartwool or darn tough. At the end of the day you got to keep riding through the cold and see what works for you.

pdlamb

Lots of good suggestions here, but I sort of wonder how much is relevant to OP's problem just getting below 40F? That's about 40 degrees above zero, which is where the real ice bikers in here seem to be tending.

Wilfred Laurier

I use cheap snowmobile mitts for cold-weather riding. Too warm above ~5 deg c, but great below.
I have booties that go over my cycling shoes, but they are of limited benefit at very cold temps. I usually swap to flat pedals and ride with non-cycling-specific boots when it is very cold.

ironwood

There is an old saying among skiers and winter hikers: If your hands and feet are cold, put on a hat. Gloves and socks are fine, but if your body is cold, it will not send blood to the extremities. You lose a lot of heat by not having the right headgear and warm clothes for the rest of your body.

La Tortue

+1 for Zwift.

Gresp15C

I've found that warm pants help me keep my feet warm. I have a couple of thicknesses. One pair is for cross country skiing, the other is for generic outdoor use, but is what I also use for downhill skiing when it gets cold, and is waterproof. For commuting to work, I just put them on over my regular pants.

Look into bar mitts.

I also have a beanie hat from REI, that fits under my helmet. For below zero, I switch to a downhill ski helmet and ski goggles with clear lenses. You have to look around to find the clear lenses, but they are common in Wisconsin where a lot of people do nighttime skiing at small facilities. No daytime skiing in the mountains because... no mountains.

RGMN

It more depends on what the OP feels is cold. What is mildly cool to me might be bitter cold to someone else.

I rode with some work friends a few years back in San Diego in the winter. At the start of the ride it was bright and sunny with temps in the upper 40s. Being from the Midwest and skiing all winter it felt warm to me, so I showed up ready to ride in bibs, knee warmers, a short sleeve jersey, and full finger gloves. Everyone else had full length leg warmers or tights, long sleeve jerseys, hats, gloves, shoe covers, and insulated jackets. They couldn't believe I would ride in such cold conditions with no other gear. Quite frankly, during the ride I was hot, it was way too warm for me. The whole while they were complaining about how cold it was. I thought it was quite humorous, but it pointed out how well people adapt to conditions. I'm sure if I spent more time there I would have been dressed the same way they were.

RGMN

+1 on the hat.

Don't forget your neck either. A surprising amount of heat is lost from the neck, and if your neck gets cold it make the head feel colder. I use a neck gaiter, it is one of my favorite pieces to toss in a pocket as a backup. It takes virtually no space, weights almost nothing, yet makes all the other clothing work so much better.

kq2dc7

10 mile single track loop with a starting temperature around 35 degrees. Beanie under the normal helmet with a long sleeve t-shirt under a regular t-shirt. Thin tights under the mtn bike shorts with ski socks on with leather tennis shoes. Gloves were just a thin light glove. It was cold starting out but warmed up quickly. By the end my feet were getting real cold and stayed cold for at least an hour after the ride.

Last winter I dressed to warm and would get chilled after the sweat had dampened the inner layers.

Miele Man

I r ead in a bicycling book many years ago that if you feel warm BEFORE you actually start riding, that you are dressed to warmly.

For me the trick is to wear LOOSE shoes and socks in order to keep my feet warm. Far too many people wear heavy socks that are compressed by their shoes thus loosing most of any insulating properties the socks have. Also, if you can block the wind on your hands or feet you'll feel so much warmer. Windproof mittens with a thin wicking glove under them helps a lot as does a windproof cover over your shoes.

Cheers

bpcyclist

Gonna be 29 degrees overnight and very windy--like, up to 60 mph. I usually leave at 430 (AM) for my daily ride. Might have to skip it tomorrow.