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.
Sometimes the hot water heater will trick homeowners into thinking there is a leak when there is in fact nothing wrong. It is natural for condensation to occur on a hot water heater. When cold water first enters the inside of the tank, it can lead to condensation when the outside air is hot.