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As Vinsk mentioned, do you know your swing speed or even better ball speed?
The cheapest way to experiment would be to simply extend out the current shaft 1 1/2 inches. Although this is more than I ideally like to extend a club, I think in your case it would be without issues. This would cost you all of $17 more or less for the extension and a new grip.
If you would rather go the new shaft route, I would drop into the lower 50g weight class to build to 47inch or whatever you want to try. Probably would also want something more butt weighted. That Riptide comes in a CB model at 50g which wouldn't be too expensive. I think you can find them for under $80.
Well, I'm going to have to go against the consensus here. Unless you know for virtual certainty that you ball crossed into the penalty area ask yourself this. Is there a possibility that your ball could be lost outside the penalty area? IF so then you would need to act accordingly. Back to the tee or if E 5 was in effect then out to the fairway and add 2 strokes.