New Computer, 2 SSDs, 1 Windows 7, Other Ubuntu. NTK?

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http://askubuntu.com – If I am installing Ubuntu now, will I be able to install another Linux on the same drive without problems? can I access programs, files installed on ubuntu etc? Reading about the install process and root/home/swap partitions has me a bit confused as it is, and I'm more focused on making sure Ubuntu doesn't cause a premature death to my SSD. Ubuntu is free, SSDs are not. (HowTos)