Reddit mentions: The best bike headset spacers

I have used the home made press and its fair at best. I got my shop to do it from then on until I bought a cheap Nashbar press. Looks like they don't sell it anymore.

here is the cheapest one on amazon
https://www.amazon.com/Headset-Installation-Bottom-Bracket-Press/dp/B01N4QZRJH/ref=pd_sbs_468_1?_encoding=UTF8&pd_rd_i=B01N4QZRJH&pd_rd_r=e60fe914-c730-11e8-9c40-258f68d376cf&pd_rd_w=V1chO&pd_rd_wg=tULTm&pf_rd_i=desktop-dp-sims&pf_rd_m=ATVPDKIKX0DER&pf_rd_p=53dead45-2b3d-4b73-bafb-fe26a7f14aac&pf_rd_r=61H26MPJBM1P70V35EY3&pf_rd_s=desktop-dp-sims&pf_rd_t=40701&psc=1&refRID=61H26MPJBM1P70V35EY3

If he also likes beer: https://www.amazon.com/Niner-Bikes-YAWYD-headset-threadless/dp/B00BGDNT5S/ref=sr_1_1?ie=UTF8&qid=1466011107&sr=8-1&keywords=niner+beer+top+cap

• Put the stem as high as you think you'd ever want it (as shown in your photo), then using a sharp implement, score the steerer all the way around using the stem as a guide. Remove fork from bike.
  
• Cut the steerer so that it will be 3mm shorter than the top of the stem (depends how close your mark was to the stem here). This will give the space needed to pre-load the bearings. (You can also cut it flush and use a 5mm spacer on top of the stem).
  
• De-bur and install star nut.
  
  
• Ride bike, adjust stem position, ride, repeat, etc. Find where you want that stem positioned.
  
  
• Cut again. Make sure to tap the star nut down a bit and/or measure so you don't cut into it.
  
  
• Install YAWYD top-cap with bottle cap of choice.

You don't need to convert the rear hub, you can just use a gear, either from a cassette assembly or purchased separate, and a bunch of spacers.

I sourced all my parts from my LBS for $5, basically picked up a bunch of used cassettes, broke them down and used a cog of choice along with a bunch of the plastic spacers.

Pug

Doing so allows you an infinite amount of adjustment to line up with whatever front ring you wind up with.