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.
1. Turn off the power to the water heater on the breaker panel. Verify that the heater is off with a noncontact circuit tester. Turn the gas valve off if this is a gas-fired heater, and also turn off the main water supply that feeds the water heater.