Is it Okay to Hold a Contract while Working Full Time?

We hear this all the time: “My current full-time job is very slow, so I thought I would pick up a contract to supplement my hours”. Or “I want to shift into contracting, but I don’t want to leave my permanent position until I am secure. Therefore, I am seeking a part-time contract while still at my current employer.” So, let me ask – is simultaneously holding a full-time job while working a contract position okay? What if I were to tell you that sometimes it is okay and sometimes it is...