Traditional IRA contributions can be tax deductible or partially tax deductible based on MAGI. In 2014, an individual with a MAGI of up to $70,000 is eligible for at least partial deductibility. There are no income limits on who can contribute to a traditional IRA.
When the water heater breaks / leaks whatever the pressure tank is going to loose pressure telling the pump to come on and the pump will run continually as it can not build pressure to shut it off.
When the dip tube breaks, cold water entering the tank mixes with the hot water and cools it down. This can occur in both gas and electric models. Second, if your water heater is electric, the lower element that heats the water may not be operating properly, thus only the upper half of the tank will heat up.