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 more serious problem is a failed or stuck pressure relief valve. The valve is on the top or side of the water heater, and it allows steam to escape from a unit that has overheated. If steam cannot escape through the relief valve, it could damage the tank and cause injury to the homeâs occupants.