Warranty and Age dates

Currently building up a business and wanting to make a log for my tools and could use some help on the date formats and calculations.
1. If when buying a new tool and get the warranty I would like excel to spit out the expire date. How can I do this in months if it were say six months or if it were in years and months..

2. Also if I could I would like to know right off the bat how old the tool is. So how could I do an age calculation in years months and days?

Thank you everyone for your help!!

Are those proper dates in your first column, formatted to display that way, or are they text values? What column are your dates in, and what is the first row of your data? I could guess, but then you would need to adjust any cell references that I use in a formula if the guesses are incorrect.

You can use the DATEDIF function to get the ages (presumably compared with today's date, so it would constantly update for different days.

Hope this helps.

Pete