On a MySQL database with ~500,000 records, is it ok to enable both the index and fulltext on two varchar(255) fields?

Basically, I will use LIKE 'foo%' so this will use index and fulltext for match against. I understand that LIKE 'foo%' does not work with fulltext so I need to enable Index for LIKE queries.

Does enabling both index and fulltext have a negative effect on queries?

TIA