Although the project was preceded by the mixtapesLongterm (2009) and Longterm 2: Lifestyles of the Broke & Almost Famous (2010), Ab-Soul has stated Longterm Mentality is not the third installment in his Longterm series. In a July 2010 interview with Complex, Stevens claimed the series would have four installments, "When I did the first Longterm I knew that there would be four of them. When I did the first one. So there will be four of them: Longterm 1, 2, 3, and 4. So right now we're at two. You'll have to wait for the next one. That's for the next Ab-Soul interview." In an August 2011 interview with BlowHipHopTV, Ab-Soul explained in spite of the fact that Longterm Mentality is not a part of the series, all three projects paint a picture of his personal life and growth. Speaking with BlowHipHopTV, the Black Hippy member said that the project is intended to introduce listeners to the man behind the mic:
I wanted to do something to where all of my supporters and people that’s following me could actually witness the entire growth of the whole situation. So Longterm was just an introduction. Longterm 2 was more personal about where I was at with it in my life at that particular time. Longterm Mentality is pretty much an overview of the whole idea. I’m trying to capture my life and the essence of what I aspire to do in this business.