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.
Leaking Hot Water Heater Tank. A leaking hot water heater tank is generally a death knell for your water heater. Once the tank goes bad there is little you can do. However, water heater tanks do last a long time, so you want to make sure that it is not something else before you assume that the tank is bad.