best way to create a timer/alarm

[Alexnb]

I am wondering what is the best way to create a timer, like an alarm, once it
reaches a time, it triggers an event. I have a way of doing this but it
seems like it isn't good at all. If it helps at all I am using a Tkinter,
but that probably doesn't mean much. The way I was doing it was using a
while loop, and just saying while current time is not = to trigger time, do
nothing, and when it is, do event. 
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