I just got my first bike last weekend it is a 1995 GS 500e with 15000 miles on it. I thought this would be a good place to get some questions answered. I would like to know if there is any thing i should do to my bike since it is an older bike. And it would be great if i could get some advice or little tips about the gs 500 that could help me care for my motorcycle better.

Hello,

http://wiki.gstwins.com/index.php?n=Maintenance.RoutineMaintenance

Welcome

Welcome to GStwins.  

Edit Added:
Follow XealotX's advice.  Just go down his list and do everything.  If it looks like it was just done by the PO, then move on to the next one.  If there is any question about if it was done or not, then just do it.  (valve clearance and head bolts are 2 examples)

If it helps, here's a similar list that breaks down all the required maintainance by mileage.  

http://www.gstwin.com/maintenance_info.htm

Once you have all the routine maintainance done you're good to go.  These things last forever with just routine maintainance, but can live a short life if something like oil level or valve clearance are neglected.