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.
An IBHS study found that 69 percent of all water heater failures result from a leak or a full-on burst. A water heater stores many gallons of hot water and rusts over time. The pressure inside the tank, combined with a weakened structure due to rust, could cause a leak, and the tank could actually burst.