All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
It is recommendable for a person to make Aqeeqah for himself if his parents didn`t perform it for him, as determined by our jurists (Shafie).
The aim behind this is to observe this blessed Sunnah and receive compensation from Allah the Almighty. Ibn Hajar Al-Haitami (May Allah have mercy on him) said: "It is recommended for the child whose Wali (Guardian) didn`t perform Aqeeqah for him to perform it himself as an adult." {Tohfat al-Mohtaaj, vol.7/ pp.425}.
We caution, however, that the suffering visited upon the people is amongst the cosmic laws destined by Almighty Allah for a reason that He knows. It is either for atoning a sin, raising one`s status or decreeing what is in this life. There is no evidence from the Prophetic Sunnah that not performing Aqeeqah incurs calamities. In addition, not every person is afflicted because Aqeeqah wasn`t performed on their behalf. However, it was reported in the Prophetic Sunnah that the Messenger of Allah (PBUH) said: "The boy is mortgaged by his 'Aqiqah; slaughtering should be done for him on the seventh day, he should be given a name, and his head should be shaved." {Related by Tirmithi}.
Imam Ibn Qayyim al-Jawziyyah (May Allah have mercy on him) said {Not literal enough}: "Aqeeqah brings the newborn closer to Allah from the very beginning of its life…………..It also dismortgages the newborn since it is mortgaged by its Aqeeqah. Imam Ahmad said that the newborn`s intercession for its parents is bound by their having performed Aqeeqah on its behalf. Aqeeqah is also a ransom to the newborn since Prophet Ibrahim (PBUH) ransomed his son Prophet Ismail (PBUH) with a ram. This is in addition to many other benefits………….." {Tuhfat al-Mawdood bi Ahkaam al-Mawlood, pp.69-70}. And Allah The Almighty Knows Best.