Foreign Property, am looking at Eastern Europe at the moment, but I'm unsure. Property in Spain is nice, but Spain's property market was described as over-valued at the moment (like Irelands). Can't remember where I read that.
If I had 50K lying around right now? Hmm, I'd probably take some for staking my poker play
Although for returns etc with interest rates so low, I'm not sure. Diversify, diversify, diversify. Pick 4 or 5 areas you like the look of and invest 10K or so in each. Enough to have finger in the pie, but not enough that a major downturn in said area would cripple you.
If 50K was all that I had in savings, I'd be putting it in some safe(ish) investment scheme tbh. Stocks and shares are nice and can get you good returns, but I wouldn't be putting my pension on them.