Fill a saucepan with about 3 inches of water. Heat over medium-high heat until the water reaches a rapid simmer. Reduce heat to medium to maintain the simmer. Using a slotted spoon, carefully lower the egg into the water. Simmer for 5-7 minutes, depending on how runny you would like the yolk. Remove the egg with a slotted spoon. Place in an ice bath or run under cold water for 1 minute. Peel and serve immediately while the egg is still nice and warm.