Why is everybody being mean to Kancha? I am conservative and prefer CD. Have you looked at stock market? Nobody is buying so you could make a killing if you can afford to buy and sit on it for some years. For instant returns, I don't know. Another option is real estate again if you don't sell immediately.

Who said your bank is mandated to report you to INS if you have more than 10,000? Never happened to anybody that I know of.

Anybody with a halfway decent job can save 50,000 in 3 years. Most professional jobs pay at least 40,000 a year. Be frugal, don't buy a new car and don't go to clubs, bars and don't take a vacation and get a room-mate to split the rent. 

Hope that helped!