First we deal with the wrinkles, using "patch tool", try using a very small area and brush.

Step 2, taking care of the beard, clone, clone and clone some more.

Step 3, changing hair, eyes and eyebrows color. In case of the girls hair, make a new layer and use a white brush just to colour all over the girls hair, then go to "hue and saturation" and play around with the colour untill satisfied. After that, go to "layer blend" and select "soft light". Do the same steps for the eyebrows and eyes, and the shades.

Step 4, the beard. ok this was a bit triky for me. I had to make 3 layers for the beard. in the first layer, use your black - gray colour brush and color all over the area where u want the beard. After that, go to Noise filter add noise, about a good 35%, and then Filter Motion, "zoom" play around till satisfied. once that is done, go to layer blend and choose soft light, copy this layer and choose layer blend hard light, copy this last layer and choose layer blend soft light. and their you have it- have funnnn