Observing the law of Moses is no longer the way of Salvation can mean saved from something (deliverance) or for something (redemption). Paul preached that salvation comes through the death of Christ on the cross which redeemed sinners from death and for a grace-filled life. More.
There is a difference in opinion whether the Greek word in this verse (telos) means “end” (in the sense of termination) or “goal.” Is Christ the “terminus” of the law (so one need not observe the law), or is he the “goal” of the law (so he fulfills it) that the law itself testifies to (see Romans 1:2)? Either meaning is possible with the Greek word itself and it is possible that both are intended to some extent. In either case, Paul declares that observing the law of Moses is not the way to righteousness leading to salvation, even if it had this function previously. Instead, righteousness is given to all who trust in Christ. In other words, faith/trust in God’s gift of Christ is the ultimate basis for people being in a right relationship with God.