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.
Water heater tank leaks. The glass tank liner inside your water heater can get corroded over time, causing it to crack and leak. When this happens, your water heater needs to be replaced. Turn off the power to the water heater.