I would say the answer to this question depends on a few things. How old you are, whether you're attempting to hedge against inflation, or whether you're trying to actually make money off inflation. Or, are you simply trying to maintain a balanced portfolio while inflation is occurring.
Warren Buffett says that the best hedge against inflation is to improve your own self worth. If you become worth more professionally during an inflationary period, you'll command more pay. Also, if you own a strong business that offers something that people need, you'll also be in good position to ride out the inflationary wave. While inflation does exist, it's not an end-all to earning power. Many people make a lot of money during times of inflation.
There's a really great article about investing and inflation
you can read. It talks about how investing in equities can either help or harm you. If I read it correctly, I deduced that investing in value stocks during an inflationary period is better than investing in growth stocks, but you need to really analyze what's happening in the supply chain of these value companies to make a good decision. Personally, I would opt to go for a balanced approach. I'd try to maintain a balanced portfolio of stocks, bonds, real estate, and commodities. And within the stocks, I'd diversify between domestic equities, foreign developed nations, and emerging markets. And within the bond world, I'd diversify between regular bonds and inflation protected bonds.
To answer your question more clearly, I'd probably put the $50,000 in ETFs: inflation protected bonds, gold, commodities, and real estate. There's only so much we can do, so that would be my advice. Now, if you wanted to become a hard core real estate investor, you could buy a house now with a big mortgage and hope inflation hits. You'd have a low rate fixed mortgage and then in a few years, that loan would seem like peanuts, depending on how much inflation we're facing. You could sell the house for a handsome profit after the inflation thing has calmed down. But if you don't know what you're doing as far as real estate investing, stay far away from that. Far too many people have lost their shirts doing that type of risky investing.