Surprisingly, there really is not much difference between fresh water and salt water fishing. About the only thing that changes is the bait...Even fly fishing gear can be used in salt water.
What ever gear and rigs you have been using for those 40 years in fresh, will be fine in salt.
Just like fresh, if you target a specific fish then you will need specific rigs and baits.
For example. I am now travelling around Australia house sitting. Two months ago I was in Victoria fishing for bream in the brackish waters of the upper Gippsland Lakes. I was also catching bream in salt water at Lakes Entrance which is the entrance to the Gippsland Lakes. Now, I am about 800km (500 miles) north west in central New South Wales and I am catching red fin (English perch) in muddy fresh water creeks. I am using the same rod, reel, rigs and even the same hook. The only thing I have changed is the bait.
The bait you are giving away sounds good to me.
If you want to get new gear, the first question to ask is how much money do you want to spend?
itsaboat mate...Life is just a boat and then ya marry one !