Add saffron to mortar and using a pestle grind up saffron until it reaches a powdery consistency.
Add your ¼ cup of hot water directly to the pestle and stir to combine. Set aside.
Add your chicken or vegetable stock to a medium saucepan and bring to a boil on the stove top over medium-high heat.
Once the stock is boiling add in your saffron/water mix, olive oil, turmeric and salt. Stir well.
Add rice and bring mixture back up to a boil. Once boiling, lower heat to a simmer and cover tightly with a lid.
Simmer on low for 15 minutes.
Turn off heat and let rice sit, covered with lid for 5-10 minutes until all liquid has been absorbed.
Remove lid and fluff rice with a fork.