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.
So, if your water heater breaks down and the cost to repair your water heater is $425 and your water heater is older than seven years, you should think about replacing your broken water heater. This has a more expensive initial cost, but over time, you will save more on your energy bills.