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.
A plumber should then be called to check the pressure to the house and make the necessary corrections. Another sign of a leak is if the water heater stand is wet or damp. Your water heater is insulated and therefore should never release condensation and your stand should be completely dry.