Should I Use An Always-Running Console Program on Server to Do Task

What I want to achieve is quite simple, and it can be accomplished by a always-running console program like below:

class Program
{
    static void Main(string[] args)
    {

        while (true) {

            DateTime now = DateTime.Now;
            if(now==timeToRunTask)
                 runMyTask();//e.g. send an email to Joe

        }
    }
}

I wonder if this approach is very inefficient in terms of what I'm trying to achieve. And I saw some information about using Task Scheduler so I wonder if I should use that. I'm using Windows Server. But I'd like to know why I shouldn't use the above approach first. Thanks!