FTM's old practice was to take your old file and reformat it to the new format structure. If you ever needed to go back to your old file, you couldn't, because it had been reformatted.
You don't need to go through that anymore, because FTM"s installation routine has a checkbox for "make a copy" before converting to new format.
You don't need to remove old FTM2009 software. In fact, I recommend that you keep at least the last version of FTM -both software and data file up and running
A procedure many of use is to rename our files so that the file names show the format of the file according to version. For example, if the your file names were
royals.ftm < data file
royals Media < Media folder
You can rename inside of FTM2009, or in Windows Explore (right click > rename file)
royals 2009 < folder for both of below:
royals2009 < Data file
royals2009 Media < Media folder
Then, create a new folder
royals2014 > folder for both of below:
royals2014.ftm > data file
royals2014 Media > Media folder
Now load your FTM2014software from the CD. When finished it may ask if you want to convert the file last used or give you the choice to choose to convert a file by browsing. If you did the above you would no longer need to check the box to make a copy before converting because you will have already made the copy. But, you can if you want.