Instead of doing DATETIME_DIFF(TODAY(), {First Date}, 'years')
, you would do DATETIME_DIFF(TODAY(), {Next Date}, 'years')
where {Next Date}
is a formula that looks like this:
IF(
{First Date},
DATETIME_PARSE(
DATETIME_FORMAT(
{First Date},
'MM/DD/' & (YEAR(TODAY()) + IF(
DATETIME_PARSE(DATETIME_FORMAT({First Date}, 'MM/DD/' & YEAR(TODAY()))) < TODAY(),
1,
0
))
)
)
)