If $x_1$ and $x_2$ are the solutions of the equation
$x^2-(m+3)x+m+2=0$
Find all real values of $m$ such that the following inequations are valid
$\frac {1}{x_1}+\frac {1}{x_2}>\frac{1}{2}$
and
$x_1^2+x_2^2<5$
1. **Given the quadratic equation:**
   \[
   x^2 - (m+3)x + m+2 = 0
   \]
   The solutions \(x_1\) and \(x_2\) can be found using Vieta's formulas:
   \[
   x_1 + x_2 = m + 3 \quad \text{and} \quad x_1 x_2 = m + 2
   \]

2. **First inequality:**
   \[
   \frac{1}{x_1} + \frac{1}{x_2} > \frac{1}{2}
   \]
   Using the relationship between the roots and coefficients, we have:
   \[
   \frac{1}{x_1} + \frac{1}{x_2} = \frac{x_1 + x_2}{x_1 x_2} = \frac{m+3}{m+2}
   \]
   Therefore, the inequality becomes:
   \[
   \frac{m+3}{m+2} > \frac{1}{2}
   \]
   Solving this inequality:
   \[
   2(m+3) > m+2 \implies 2m + 6 > m + 2 \implies m + 4 > 0 \implies m > -4
   \]
   However, we must also consider the domain of the expression \(\frac{m+3}{m+2}\), which is undefined for \(m = -2\). Thus, the solution to this inequality is:
   \[
   m \in (-4, -2) \cup (-2, \infty)
   \]

3. **Second inequality:**
   \[
   x_1^2 + x_2^2 < 5
   \]
   Using the identity for the sum of squares of the roots of a quadratic equation:
   \[
   x_1^2 + x_2^2 = (x_1 + x_2)^2 - 2x_1 x_2
   \]
   Substituting the values from Vieta's formulas:
   \[
   x_1^2 + x_2^2 = (m+3)^2 - 2(m+2)
   \]
   Therefore, the inequality becomes:
   \[
   (m+3)^2 - 2(m+2) < 5
   \]
   Simplifying:
   \[
   m^2 + 6m + 9 - 2m - 4 < 5 \implies m^2 + 4m + 5 < 5 \implies m^2 + 4m < 0
   \]
   Factoring the quadratic inequality:
   \[
   m(m + 4) < 0
   \]
   This inequality holds when \(m\) is between the roots of the quadratic equation:
   \[
   m \in (-4, 0)
   \]

4. **Combining the results:**
   The values of \(m\) must satisfy both inequalities:
   \[
   m \in (-4, -2) \cup (-2, \infty) \quad \text{and} \quad m \in (-4, 0)
   \]
   The intersection of these intervals is:
   \[
   m \in (-4, -2) \cup (-2, 0)
   \]

The final answer is \( \boxed{ m \in (-4, -2) \cup (-2, 0) } \)