An adjustable golf shaft having an upper shaft member, a lower shaft member and an inner rod. The upper shaft member includes an elongated bore therein with an upper bushing fixed within an upper end of the elongated bore therein. The lower shaft member has an elongated bore therein with a middle bushing fixed within an upper end of the elongated bore therein. The inner rod includes a lower end dimensioned to be fixed to a lower bushing, and an upper end dimensioned to be fixed to the upper bushing. The inner rod is adapted to slide within the middle bushing as the length of the shaft changes.