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Switching theme doesnot make it lose the contents and settings unless you are using third party plugins(other than the recommended ones). Sometimes they may create issues. It is always better to make a backup of your website https://wordpress.org/plugins/duplicator/ incase if you lost the stuffs you can easily recover.
Otherwise it is completely fine.
You can follow: http://www.wpbeginner.com/beginners-guide/checklist-15-things-you-must-do-before-changing-wordpress-themes/