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 Furthermore, if you live in an area with hard water, the mineral buildup inside the tank can clog plumbing lines and may shorten the life of the unit. 2  If either of the above applies to you and you have been experiencing trouble with your hot water heater, it may be time to replace it.